Taking control of Energa was the first step in implementing the ideas of the fixes of the then president of Orlen Daniel Obajtek, i.e. the construction of a multi -energy group. The State Treasury gave green light for transactions and The budget received about PLN 1.8 billion from the sale of the shares of the Gdańsk company. The European Commission agreed to the merger.
However, Orlen failed to take full control over energy and today has just over 90 percent. action. Companies have not undergone integration, and Energa is still listed on the Warsaw Stock Exchange and has minority shareholders. 100 % of the call did not go. shares of the Gdańsk company.
According to Business Insider Polska's findings Check what options it has and what can result from them.
– A tender procedure for the purchase of advisory services will be held. The consulting company that wins them will have the task Review strategic options for Energa – says our informant who knows the details of the case.
Orlen will examine three variants
The invitation to submit offers for advisory services is to be sent to the largest entities from the world of consulting companies. According to Business Insidera, Orlen wants his adviser to focus on three variants of the involvement of the group in Energa.
The first variant is to keep the action. This scenario is to include an analysis of the long-term increase in the value of the shares of the Gdańsk company and the potential of capital returns, e.g. in the form of dividends or buy-back. The selected consulting company will still have to analyze, among others Stability and prospects for energy development, its synergies with other Orlen assets and impact on minority shareholders.
The second variant assumes an increase in Orlen's involvement in Energa, i.e. the purchase of shares.
The third scenario is alternative variants. Among them, the Orlen advisor will analyze, among others Disinvestment of selected Energa assets and their transfer to Orlen. The option of selling parts or all of Energa shares will also be examined. There will also be a restructuring of commitment on the table, i.e. a conversion of debt, contribution or connection, as well as the conclusion of partner contracts and a joint venture.
The fruits of the work of Orlen's adviser are to become a contribution to the discussion about the future of Energa.
– A report on the review of strategic options will not show what decisions will be made, but it will give the answer, what are the costs and benefits related to the implementation of individual scenarios for Energa. Such a document will go to the shareholders of Orlen, minority shareholders of Energa and politicians, and then you will be able to discuss the future of the Gdańsk company – emphasizes our interlocutor.
The rest of the text under the entry
Orlen and influence from Pomerania
Energa and Lotos, or two state -owned companies, which were taken over by Orlen, come from Gdańsk, i.e. the Matthecznik of Platforma Obywatelska. Recently, “Gazeta Wyborcza” described that Pomeranian local government officials and entrepreneurs sent a letter to Prime Minister Donald Tusk, in which they expressed their expectations related to the further functioning of Energa. They want, among others In their opinion, the preservation of the company's independence and its remaining on the WSE should have the main role in the Energy Energy Segment of the Orlen Group.
The secret of the polyszynela is that the management of Orlen, when considering the strategic options for Energa, will have to reckon with the voice of Tri -City politicians.
Only half a year ago it seemed that the future of the Gdańsk company would soon decide. At the beginning of January this year. Ireneusz Fąfara, president of Orlen, resigned from the position of the chairman of the Energa Supervisory Board. At that time, “Rzeczpospolita” claimed that this traffic could be dictated by the desire to buy minority shareholders of the Gdańsk company, which would open the way to withdraw from trading on the stock exchange and allow for closer integration within the Orlen Group.
Author: Bartek Godusławski, journalist Business Insider Polska
