UOKiK’s [Office for Competition and Consumer Protection] approval to acquire Lotos Terminale by Unimot

Date of publication: 08.07.22

The Unimot Group has obtained approval of the President of the Office for Competition and Consumer Protection for the acquisition of 100 % of the shares in Lotos Terminale by Unimot Investments. The preliminary agreement, the conditions of which were, inter alia, the approval of the European Commission received on 20^th June and the approval of the UOKiK obtained on 8^th July, concerns the business activity of an independent logistics operator and the production and sale of bitumen. Upon the completion of the transaction, the Unimot Group will be the third player within the fuel storage market and the second player within the bitumen sales market in Poland.

The approval issued by UOKiK is the subsequent step bringing us closer to the completion of the largest transaction in our Company’s history. At the same time, we continue to reorganise the Group and take action to perform the function of an independent logistics operator. The process is running very smoothly and is in accordance with the established schedule. From 1^st August, the fuel, biofuel and LPG trading segments should fully operate under Unimot Paliwa. In this way, after having acquired the fuel storage infrastructure, we will be able to ensure the full independence of the individual segments within the Unimot Group, says Adam Sikorski, President of the Management Board of Unimot.

Pursuant to the preliminary agreement, the Unimot Group will acquire the business of an Independent Logistics Operator, the so-called “ILO Business”, which consists of nine fuel terminals, as well as the “bitumen” business, which includes the asphalt plants located in Jasło and Czechowice-Dziedzice, which were spun off from Lotos Asfalt, together with the sales department.

The transaction will be completed upon the fulfilment of the remaining official conditions, among others, obtaining the relevant corporate approvals.