Following a contentious EGM at Ceska rafincerska on Monday, Unipetrol (which holds 51% of CRaf), is reportedly considering terminating its general shareholder agreement with the IOC consortium (Agip, Shell, Conoco) that holds the minority stake in CRaf, or taking the IOC to arbitration. This regards the removal of CRaf CEO I. Ottis, which was proposed by Unipetrol at Monday’s EGM, but which the IOC blocked. Thus the shareholder agreement has been breached, Unipetrol contends.
The issue illustrates complexity of relationships in the current holding structure and the necessity to resolve CRaf’s role in the Unipetrol group; the news should not affect the stock, though.
(Jan Hajek)