6 December 2022
We are pleased to announce that we advised Poland’s largest refiner, Polski Koncern Naftowy ORLEN (“PKN ORLEN”), in the completion of the next phase of the implementation of remedies in connection with the acquisition of control by PKN ORLEN over LOTOS Group S.A., involving transactions with Aramco Overseas Company B.V. (“Aramco”) and Hungary’s MOL Hungarian Oil and Gas Public Limited Company (“MOL”).
At this stage of the implementation of the remedies, we advised PKN ORLEN, among others, on a number of sale transactions to Aramco involving the refining, aviation fuel and fuel wholesale businesses, i.e. the sale of 30% of the shares in Rafineria Gdańska, 50% of the shares in LOTOS-Air BP Polska and 100% of the shares in LOTOS SPV 1. We also advised on the signing of key cooperation agreements with the investor.
Furthermore, we advised PKN ORLEN on the sale of 100% of the shares in LOTOS Paliwa to MOL.
Acting as one of the lead counsel, Rymarz Zdort has been advising on the implementation of the remedies specified in the conditional decision of the European Commission of 14 July 2020 regarding its consent to a concentration involving PKN ORLEN taking control over Grupa LOTOS S.A. from the very outset of the process (for more information, please see: Rymarz Zdort advises Grupa LOTOS S.A. on implementation of remedies in connection with concentration with Polski Koncern Naftowy ORLEN SA).
“This is another transaction within the framework of the merger process between PKN ORLEN and LOTOS Group, which has already taken over four years of extremely intensive work. We are delighted to have had the opportunity to participate in such a complex transaction process involving global and regional players in the fuel sector and to once again demonstrate our unparalleled credentials in M&A advisory in Poland. We would like to thank our client for the trust placed in us and for granting us the opportunity to participate in this landmark project.” – says Paweł Rymarz, managing partner.
Rymarz Zdort provided comprehensive transactional advice.
The transaction team consisted of: Paweł Rymarz (managing partner), Aleksandra Dobrzyńska-Grezel (counsel), Dr Jakub Zagrajek (partner), Dr Paweł Mazur (senior associate), Diana Sofu (senior associate), Patrycja Gliwka (associate) and Filip Golędzinowski (associate).
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7 November 2024
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5 November 2024
We are pleased to announce that we advised EWE AG on the sale of EWE Polska, the second largest privately-owned natural gas network operator in Poland, to Eesti Gaas, operating in export markets under...
