Unipetrol sells Spolana to PKN unit for CZK640 mln

27.10.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, Oct 27 (Reuters) - Czech downstream oil processing group Unipetrol <UNPEsp.PR> will receive 640.4 million crowns ($28.61 million) for the sale of its chemicals plant Spolana, Unipetrol's majority owner PKN Orlen <PKNA.WA> said on Friday.

Spolana has agreed to sell 82 percent of Spolana to Poland's Anwil, a unit of PKN.

"Total price for the shares is 640 million crowns (or around 87.7 million zlotys) and will be paid by Anwil from its own funds in cash," PKN said in a statement.

Analysts had estimated the Spolana stake to be worth about 1.1 billion crowns.

Unipetrol called a news conference for 10 a.m. (0800 GMT) in Prague to discuss the transaction. ((Reporting by Marek Petrus; Editing by Alan Crosby; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) ($1=22.38 Czech Crown)

Keywords: CHEMICALS CZECH UNIPETROL

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