As we expected, the political pressure on Agrofert to complete Unipetrol privatization intensifies after the supply contracts were signed between Ceska rafinerska and Chemopetrol (No 1 and 2 Unipetrol subsidiaries) - the Industry Minister J.Rusnok told Agrofert CEO yesterday that he wants the privatization issue to be resolved by September 30. Also, PKN Orlen`s participation on the privatization is probably not acceptable , the Minister said.
Cabinet`s disagreement with PKN Orlen participation might force Agrofert out of the whole deal, the stock could rise again on privatization cancellation speculations.
Jan Hajek