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Unipetrol accepts offer to purchase ENI's shares in Česká
04
Jul '14
UNIPETROL, based on its pre-emptive right has accepted the bona fide offer from Eni International B.V. (“Eni”), based on which it will acquire 32,445 % of Eni’s shares in CESKÁ RAFINÉRSKÁ, a.s. (“Ceská Rafinérská”) with the acquisition price for the shares in the amount of 30 EUR million.
 
Unipetrol currently owns 67.555% of the Ceská Rafinérská’s share capital after acquisition of Shell’s shareholding interest at the beginning of 2014.  After completion of the Transaction, expected by the end of 2014, Unipetrol shareholding interest will increase to 100%, making Unipetrol the sole shareholder of the Ceská Rafinérská.
 
"Further integration of the refining and petrochemical segments remains at the core of our main strategic objectives," said Marek Switajewski, Unipetrol's CEO. “The sole shareholding will allow to strengthen our position on Czech market and to increase security of petrochemical feedstock supplies for Unipetrol’s petrochemical business,” added Switajewski.
 
The security of the petrochemical feedstock and maximum utilization of own captive demand provide basis for the development of the petrochemical segment, where according to the Unipetrol Group Strategy 2013-2017 announced in June 2013, Unipetrol plans to make the largest capital expenditures. 
 
CESKÁ RAFINÉRSKÁ, a.s. operates refineries in Litvínov and Kralupy, currently the only two running refineries in the Czech Republic, with a total conversion capacity of 8.7 million tons of crude oil per year. The company is a joint venture (JV) of two shareholders as of 3 July 2014: UNIPETROL, a.s. 67.555% and Eni International B.V. 32.445%. It was established in 1995 and started operating in the processing mode with no sales activities as a cost-plus entity in 2003.
 
UNIPETROL, a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 UNIPETROL became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the UNIPETROL Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs 3,700 people.
 

Unipetrol

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