Agrofert has published parts of its agreement with PKN on the sale of some Unipetrol’s assets. PKN considers the agreement as disadvantageous. Failure the meet to agreement means compensation to Agrofert. There are potentially three scenarios: (i) PKN sells the assets to Agrofert, (ii) PKN pays a fine and (iii) the issue is settled by court. Currently, Unipetrol’s privatization is being investigated in Poland.
The final price PKN will pay for its 63% stake in Unipetrol should be known by the end of September. The price of CZK 99/share can be increased by up to 15% based on Unipetrol’s performance after the sale was approved. Restricted.