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    New purchase of Orlen in Lithuania

    Orlen Lietuva from the Orlen Group took over Mażeikiu Nafta Trading House, an entity operating since 2003 as a sales representative of the Lithuanian refinery in the Baltic States and neighboring markets. The goal is, among others organizational optimization in the Orlen Group – reported Orlen Lietuva.

    In 2006, PKN Orlen bought for 1.49 billion USD 53.7 percent from Russian Yukos shares of the then company Mażeikiu Nafta managing the refinery in Mažeikiai. After that, pursuant to an agreement with the Lithuanian government, it acquired 30.66 percent for more than 852 million USD. Then, after finalizing a contract with the Lithuanian government to buy the remaining 10 percent shares and redemption from small investors, the company became the owner of the Lithuanian refinery, which in 2009 changed its name to Orlen Lietuva. Orlen Lietuva, in which 100 percent shares are owned by PKN Orlen, is the largest Lithuanian company, and at the same time the largest local exporter and taxpayer. The refinery in Mažeikiai managed by this company is the only one in the Baltic countries.

     

     

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