Orlen SA (WAR:PKN)
zł 65.75 0.56 (0.86%) Market Cap: 76.33 Bil Enterprise Value: 88.17 Bil PE Ratio: 5.27 PB Ratio: 0.50 GF Score: 88/100
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Polski Koncern Naftowy ORLEN Spólka Akcyjna - Corporate Call Transcript

Jul 29, 2022 / 10:00AM GMT
Release Date Price: zł75.52 (+0.72%)
Unidentified Company Representative

Thank you very much, Konrad. Welcome, everyone. Good day. Thank you for joining the conference call today. We have an important update to you because we have achieved a very significant milestone in creating the multi-energy company. And I'm happy to announce that today, the management teams of ORLEN and PGNiG have agreed and signed a merger plan, which was published early morning to the public domain.

The combination of the businesses is a natural step in creating an integrated and diverse multi-energy company and follows the previously announced mergers with LOTOS and ANWIL. So as I noted before, the transaction will be a share-for-share merger with an agreed exchange ratio and will be registered all in voting at the general assemblies.

So according to the agreed exchange ratio, every share of PGNiG, the shareholders will receive 0.0925 new shares of PKN ORLEN. So from our perspective, the merger, which we are discussing right now, will assume the provisional security, especially given current macroeconomic and geopolitical headwinds, but at the same time,

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