The acquisition of Ruch, a popular kiosk network in Poland, by PKN Orlen is entering the implementation phase. Composition proceedings with Ruch’s creditors were carried out, which was finally confirmed by the court. This was the last condition for closing the trial, PKN Orlen informed. The company added that the closing of the transaction is expected by the end of this year.
In June this year, PKN Orlen received the consent of the Office of Competition and Consumer Protection to finalize the transaction.
“A legally binding decision of the court opens the way for us to close the acquisition of Ruch. We assume that it will take place by the end of this year,” president of the Płock company Daniel Obajtek, quoted in the Tuesday statement, reported.
Obajtek noted that Orlen has a development plan for Ruch, “which will strengthen the retail segment of the Orlen Group and enable the implementation of new solutions.”
“It is ready for implementation. One of them will be the opening of retail outlets and gastronomy in locations outside gas stations,” the head of PKN Orlen added.