As a result of the contract signed with Hungary, the yellow and white Lotos petrol stations will soon disappear from the Polish landscape. By selling them to the MOL group, Orlen fulfills the decisions of the European Commission deciding on the merger with Lotos. The Płock concern also signed preliminary agreements with three other business partners, thanks to which at the turn of June and July this year the acquisition of Lotos is to be finalized.
Lotos stations will be (mostly) Hungarian
Four business partners decided to invest in the Lotos concern from Gdańsk. Saudi Aramco will take over 30 percent. shares in the refinery, biofuels will go to Rossi Biofuel Zrt, the bitumen business and logistics will be handled by Unimot, and 417 petrol stations will go to the Hungarian MOL group. Over 100 other points will be rebranded to the Orlen brand. In return, MOL will sell 144 stations in Hungary and 41 stations in Slovakia to Orlen.
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“According to the decision of the European Commission, we are to sell about 400 stations. We sell these 400 stations to MOL, but MOL sells 200 stations to the concern: 150 stations in Hungary and 40 stations in Slovakia. The 200 stations we are taking over have a similar EBITDA level, ”presented Daniel Obajtek, president of PKN Orlen, at the Wednesday conference.
On Thursday, on the air of the Polish Radio, he said that no group layoffs are planned, because companies are not “in a bad financial situation and there is no need to do restructuring programs and lay off people”. Employees will move to new entities and will maintain their existing rights.
Orlen is planning further expansion outside Poland
“(…) We are negotiating for the remaining funds that we receive for selling the stations, we are close to the end of negotiations, for the acquisition of another 100 stations in the region. Apart from the stations we sell and buy, there are over 100 Lotos stations. we do not have concentration on micromarkets, these 100 stations will be rebranded to the Orlen brand “- explained Obajtek.
Transactions related to the exchange of stations with Hungary amount to hundreds of millions of dollars. and are yet to be approved by Brussels. According to information provided by companies, MOL will pay Orlen $ 610 million for Lotos stations, and the Polish company will pay Hungary $ 259 million. As for other arrangements, the acquisition of 30 percent. shares in the Gdańsk refinery will cost Saudi Aramco about PLN 1.15 billion, and Unimot will pay at least PLN 450 million for the asphalt and logistics business.