UPDATE 1-Unipetrol investor says files suit over Spolana sale

...

PRAGUE, April 24 (Reuters) - A lawsuit has been filed seeking to annul a contract between Czech downstream oil group Unipetrol and Poland's Anwil over the sale of chemicals plant Spolana, plaintiff and minority shareholder Goldenfrazil said on Tuesday.

Goldenfrazil, which said it controlled 3.6 percent of Unipetrol, said the company should have discussed such a plan with shareholders at a general meeting because it had strategic importance.

"The Unipetrol board, however, did not submit to minority shareholders any relevant data on the plan, nor on the whole divestment," Goldenfrazil said in a statement.

It said the sale price was too low.

Unipetrol is majority owned by Poland's PKN Orlen .

Last October Unipetrol said it had sold an 82 percent stake in Spolana to Anwil, also a unit of PKN, for 640.6 million crowns ($30.98 million) plus the assumption of 660 million crown debt.

Unipetrol said its approach, including the price, had been backed by several independent opinions and that the company had released sufficient information upon completing the transaction.

"Unipetrol considers the suit by Goldenfrazil to be groundless, because the divestment of Spolana does not fall under the authority of teh general meeting," spokeswoman Michaela Lagronova said.

"The entire process of the Spolana sale -- which was concluded in the autumn of the last year -- was conducted in a completely transparent way."