Grupa Kapitałowa Grupa Azoty
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Under the Agreement signed on January 16, 2024, Grupa Azoty and Orlen will continue to work together to determine the terms and conditions of a potential transaction in which Orlen - or another entity designated by Orlen - would acquire all or part of the shares in Grupa Azoty Polyolefins currently held by Grupa Azoty, or otherwise execute the investment. The Parties have decided that negotiations on the terms of Orlen’s potential acquisition of Grupa Azoty Polyolefins, as well as an analysis of the potential transaction (including due diligence), will be carried out by March 31, 2025. This deadline may be extended or amended without altering the Agreement.
“Since December, based on the signed Cooperation Agreement and the earlier Letter of Intent, we have been working intensively on potential solutions for the future of Grupa Azoty Polyolefins. As a result, we can now unequivocally confirm our chosen direction, which is to sell all or part of Polyolefins’ shares held by Grupa Azoty. At this stage, we will begin due diligence and seek to negotiate the terms of a potential transaction. At Grupa Azoty, we believe that this collaboration can bring mutual benefits. From our perspective, a potential transaction is one of the key elements of our ongoing Recovery Program, under which we are developing a new business model for the Group,” says Adam Leszkiewicz, President of the Management Board of Grupa Azoty S.A.
Negotiations will be conducted under the Agreement signed by Orlen S.A., Grupa Azoty S.A., Grupa Azoty Police S.A., and Grupa Azoty Polyolefins S.A. This Agreement refers to the Cooperation and Stabilization Agreement among Key Stakeholders, signed on December 19 of last year by the Grupa Azoty companies, Orlen S.A., Hyundai Engineering Co., LTD., and the Korean Overseas Infrastructure & Urban Development Corporation.