Unipetrol to buy stake in Ceska rafinerska from Eni for EUR30m

published:

updated:
03.07.2014 19:02

Prague - Petrochemical holding Unipetrol today exercised its preemptive right and accepted the offer of Italian firm Eni for the purchase of its stake in oil refining company Ceska rafinerska for EUR30m (Kc823m), Unipetrol´s spokesman Mikulas Duda informed CTK.

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Společnost Česká rafinérská 14. prosince v Kralupech nad Vltavou slavnostně otevřela novou linku selektivní hydrodesulfurace krakových benzinů. Nová výrobní jednotka za 600 milionů korun umožní lépe odstraňovat síru z motorových paliv. ČTK ČTK

Unipetrol will gain some 32.5 percent in Ceska rafinerska. The transaction should be completed this year. Unipetrol will then be Ceska rafinerska´s only shareholder.

"Further integration of the refining and petrochemical segments stays as the key point in our principal strategic goals," said Unipetrol´s CEO Marek Switajewski.

The 100 percent stake will enable strengthening of the company´s position on the Czech market and raise the safety of supplies of materials for Unipetrol´s petrochemical segment.

Unipetrol raised its stake in Ceska rafinerska already at the beginning of the year when it bought some 16 percent in the company from firm Shell Overseas Investments for over $27m (Kc536m).

Polish oil company PKN Orlen also held talks about buying Eni´s stake in Ceska rafinerska.

Ceska rafinerska is the only company processing oil and producing oil products in the Czech Republic. It operates oil refineries in Litvinov and Kralupy nad Vltavou.

Unipetrol plans high investments into modernisation of its plants and into new projects in the coming years. The projects should contribute, among other things, to higher integration of its oil refining and petrochemical activities.

The government strives that these investments help secure the continuation of operations in Ceska rafinerska´s plants and cover the Czech Republic´s energy needs.

Written by:
www.ctk.cz

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