PAN bought last August. about 21 million shares of PKN Orlen, constituting 4.9% of the share capital, for an amount of approx. of 1.5 billion rubles, said the Department of Energy.
“the Board of Directors PAN SA, given the important role of the company in ensuring the energy security of the country, and given the stable financial position of the group, decided to enter in the program of consolidation of assets of fuel and energy. This is reflected in the records of the new PAN strategy for 2016-2020, which founded the participation in the capital of the company in the consolidation of national assets fuel and energy complex, including through the acquisition of 5% stake in PKN Orlen SA, having spent for these purposes about. 1.5 billion rubles”, – stated in the message.
Between 4 Aug 2016. and on 11 January 2017, PENG made the purchase 20 949 506 of the shares of PKN Orlen, gaining 4.9 per cent. participation in the equity of the group.
“the Actions of the Board of the PAN such as the most recent acquisition of shares in PKN Orlen SA, into the implementation of the policy on energy security of the country”, – said the Deputy energy Minister Michael Kurtyka, quoted in the message.
the PKN Orlen Group manages six rafineriami in Poland, the Czech Republic and Lithuania, it is also mining in Poland and in Canada. Consolidated revenue of the group reached in 2015 88,34 bln. The company is listed on the WARSAW stock exchange since 1999.
the Main activity of PAN is exploitation of a network of pipelines transporting Russian oil to the largest producers of fuels in Poland and in Germany. This service allows two threads of the oil pipeline “Friendship” going from Adamowa, located on the border of Poland with Belarus to Plock, and then to Schwedt in Germany. The company also has a network of grocery lines and implements the storage of oil.
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