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Orlen CEO: Polimery Police Deal Near Despite Partner Dispute
3 Sep
Summary
- Orlen CEO Ireneusz Fafara expressed optimism about the deal's imminent closure.
- A legal dispute with a joint venture partner could jeopardize the sale.
- Grupa Azoty's shares saw a significant drop following reports of the dispute.
Orlen CEO Ireneusz Fafara has expressed strong optimism regarding the imminent closure of a deal to purchase the Polimery Police plant. This plant is currently owned by chemicals company Grupa Azoty.
However, the potential sale faces a significant hurdle due to an ongoing legal dispute with a joint venture partner. Reports of this dispute caused shares in Grupa Azoty to drop as much as 5.2% on Thursday, although they later recovered some losses. Despite this legal challenge, Fafara remains confident that the acquisition can be successfully finalized.
($1 = 3.7256 zlotys)
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