PKN Orlen, the upcoming new majority owner of Unipetrol, has reportedly recently submitted all necessary documents to the European Commission for approval of the Unipetrol privatization transaction. According to the National Property Fund, the transaction may be completed as soon as in the fall of 2004 if no objections appear, the Czech Press Agency says.
The above is in line with expectations; we expect the buyout offer to minority investors to be launched by the end of 2004.
Jan Hajek