Date of publication: 20.06.22
The Unimot Group has been provided with the European Commission’s approval for a concentration involving PKN Orlen’s acquisition of the Lotos Group. This can be understood as the fulfilment of a substantial condition for Unimot Investments’ acquisition of 100 % of the shares in Lotos Terminale. The preliminary agreement, the condition of which was the approval of the European Commission, covers the business consisting in the operation as an independent logistics operator and in 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.
We are glad that the subsequent milestone of this transaction, which was to obtain the European Commission’s approval, is now behind us. Taking the aforesaid into consideration, it can be said that we are getting closer and closer to the completion of this transaction. Pending this decision, the reorganisation of our Group began in May this year. It is aimed at managing the new assets effectively and maintaining the independence status of individual segments, which is particularly important within the fuel storage and import area. The acquired assets will be a basis for their further development within the Unimot Group,” says Adam Sikorski, President of the Management Board of Unimot.
Pursuant to the preliminary agreement, the Unimot Group will take over the business of an Independent Logistics Operator (“ILO” business), which comprises nine fuel terminals with a total current capacity of 350,000 m3, including five terminals currently owned by Lotos Terminale: in Czechowice-Dziedzice, Jasło, Piotrków Trybunalski, Poznan and Rypin, as well as four terminals currently owned by PKN Orlen: in Boleslawiec, Szczecin, Gutkowo and Gdansk. Upon the completion of the development work, the storage capacity will reach 410,000 m3. As a result of the transaction, the Unimot Group will become the third player in the fuel storage market by volume. In addition, following the PKN Orlen’s modernisation and expansion of the marine terminal in Szczecin, the Unimot Group will additionally have approximately 10,000 m3 of capacity for the storage of aviation fuel and 40,000 m3 for the storage of diesel fuel.
In addition, within the framework of the transaction, the Unimot Group will acquire the “bitumen” business. The above-mentioned business includes the asphalt plants located in Jasło and Czechowice-Dziedzice, which were spun off from Lotos Asfalt, together with the sales department, as well as a ten-year contract for the supply by Lotos Group of bitumen products and raw material for their production in quantities of up to 500,000 tonnes per year. As a result, the Unimot Group will be the second player within the asphalt sales market by volume.
The transaction will be completed upon the fulfilment of the remaining formal conditions, among others, obtaining the UOKiK’s approval, as well as relevant corporate approvals.
28 November 2023See more
22 November 2023See more