The Ministry of State Assets, PKN ORLEN, PGNiG, and LOTOS Group have confirmed the structure of the intended merger. The signed four-party agreement provides for a merger formula that guarantees the stable financial condition of the new strong company and takes into account the needs of all shareholders, including minority interests. The leading role of PKN ORLEN in the transaction has also been guaranteed.
“We are committed to the implementation of the large merger project with PKN ORLEN. Employee relations are key in this process. Therefore, together with the President of PKN ORLEN, we are conducting an intensive social dialogue. Today we sent a joint letter to the PGNiG crew,” wrote Paweł Majewski, the President of PGNiG today on Twitter.
The President of the Management Board of PGNiG Paweł Majewski confirmed the merger’s preparations. The previous information about the merger was published on 12 May 2021 on PKN Orlen’s website. At that time, he said that PGNiG was actively involved in the process of preparing for the merger of the companies.
– Pursuant to the cooperation agreement signed between the State Treasury, PKN ORLEN, LOTOS Group, and PGNiG, we are actively involved in the process of preparing the merger of the companies. The structure of the new group will strengthen the synergy of its entities, will allow for the optimization of business processes, increase revenues, and facilitate joint undertakings. Each party brings unique competencies and resources to the new group. Their effective use will certainly contribute to its dynamic development – said Paweł Majewski, President of the Management Board of PGNiG SA.