There is a finalization of the merger of PKN Orlen and Lotos

On August 1, an entry appeared in the National Court Register on the merger of PKN Orlen and Lotos.

Thus, Lotos and Orlen are now officially one company. The merger was carried out by transferring all the assets of Lotos Group to Orlen. At the same time, the share capital was increased through the issuance of merger shares. At the time of the acquisition, Lotos shareholders acquired new shares in the increased share capital of Orlen Group. As a result, they became shareholders of that company. Lotos, on the other hand, was removed from the register.

The new entity under the Orlen brand will have revenues of about PLN 250 billion a year. It is to serve about 100 million customers in Europe. It also plans to develop renewable energy sources and invest in alternative fuels, small nuclear power and biomaterials.

Source: https://businessinsider.com.pl/firmy/fuzja-pkn-orlen-z-grupa-lotos-rejestracja-polaczenia/zd4xl3r