"LUKOIL" did not negotiate with the Polish PKN Orlen to buy shares in Mazeikiu nafta

LUKOIL did not negotiate with the Polish PKN Orlen to purchase shares neftekompleksa Mazeikiu nafta. This was reported in the press service of Lukoil.

Recall that the message about the possible talks of Russian companies Lukoil and Transneft to Polish PKN Orlen for the purchase of shares in Mazeikiu nafta came April 6 in the Polish Rzecpospolita.

As long as Lithuania was a shareholder of Mazeikiu nafta, retaining a 10% stake, PKN Orlen has been linked with the obligation not to sell shares neftekompleksa without the consent of the Government of Lithuania. However, once in late April, the transaction of sale of these balances will be completed, and PKN Orlen will become full owner of Mazeikiu nafta, this condition will be lost.

The Government of Lithuania in late March, completed the design of a deal to sell the Polish concern PKN Orlen 10% stake in Mazeikiu nafta, approved a request from the Polish part of the payment before the end of April. Under the stock option agreement signed in conjunction with the contract for the sale of Lithuanian Mazeikiu nafta neftekompleksa in December 2006, PKN Orlen has made a commitment two years to buy back from Lithuania about 10% of the shares remaining in its possession, for 280 million dollars. Currently Polish company owns 84.3% stake in the complex. When the deal was to be signed, the Polish company appealed to the Ministry of Economy of Lithuania with a request to alleviate the conditions of payment, making it possible to implement it is not immediately, but shares - immediate payment of 20% of a fixed amount so that the remaining amount to pay on time, no later than April 30 .

Polish media previously drawn attention to the financial difficulties of PKN Orlen, which last year suffered losses at 600 million zlotys (U.S. $ 176.991 million) and had debts of about 3.6 billion zloty (1.062 billion dollars). Lithuanian Energy Minister Arunas Sakmokas stated that the transfer of the transaction required the Poles to take credit in the bank.

Recall that concern Mazeikiu nafta, which is composed of three companies - oil refineries, marine oil and a system of pipelines, PKN Orlen bought out the Russian company Yukos and the Lithuanian government in December 2006. Prior to that, "LUKOIL" confirmed their interest in the enterprise.