Poland's Orlen plans Energa squeeze-out at 27.60 zlotys per share

By Reuters News

GDANSK, Poland, Sept 24 (Reuters) - Poland's state-controlled energy group Orlen PKN.WA said late on Wednesday it planned to launch a squeeze-out of remaining shares in its Energa ENGP.WA unit at 27.60 zlotys ($7.17) per share.

It currently holds a 95.24% stake after the registration of Energa's share capital increase resulting from a share issue proposed by Orlen.

  • Orlen said the planned price reflects fair value determined by an auditing firm

  • The announcement of the squeeze-out will take place on September 30

  • Orlen acquired a majority stake in Energa in 2020

($1 = 3.8479 zlotys)

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