Poland's PZU buys 14.2 million shares in PKN Orlen from state treasury
Reuters
Published Sep 29, 2022 17:35
Updated Sep 30, 2022 11:33
(Corrects SEPT 29 story to show deal value $153 million (not $1.53 billion), paragraph 3)
GDANSK (Reuters) -Polish insurer PZU has signed a deal to buy 14,161,080 shares in Polish energy firm PKN Orlen from Poland's state treasury, PZU said on Thursday.
The insurer said it would buy the shares, representing a 2% stake at Orlen's Thursday closing price.
Orlen closed at 53.40 zlotys ($10.78) per share on Thursday, which puts the deal value at 756.2 million zlotys ($153 million).
On Monday, the Polish government cleared the terms of Orlen's planned takeover of Polish gas firm PGNiG and said it would sell 2% of Orlen shares, as part of the merger.
($1 = 4.9554 zlotys)
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Written By: Reuters
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