MOSCOW (MRC) -- Unipetrol welcomes the decision of the Office for the Protection of Competition regarding transaction in Ceska rafinerska, reported the company on its site.
The decision of the Office for the Protection of Competition is not yet effective.
Transaction is an opportunistic acquisition with the aim to gain full control over decisions in Ceska rafinerska, especially in the area of capital investments. The completion of transaction will also increase security of feedstock supplies for Unipetrol’s petrochemical business development.
Unipetrol currently owns 67.555% of the Ceska Rafinerska’s share capital after acquisition of Shell’s shareholding interest at the beginning of 2014. After completion of the transaction, Unipetrol shareholding interest will increase to 100%, making Unipetrol the sole shareholder of the Ceska Rafinerska.
CESKA RAFINERSKA, a.s. operates refineries in Litvinov and Kralupy, currently the only two running refineries in the Czech Republic.
As MRC wrote before, in Q3 2014 Unipetrol Group posted very good results and significantly increased its profitability. Company recorded operational profit (EBITDA LIFO) of CZK 2.304 bn. Net profit reached CZK 1.399 bn(USD64.5million). Revenues increased y/y by 37% to CZK 34.041 bn in 3Q14.
Unipetrol , a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the Unipetrol Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 4,000 people.
MRC