Unipetrol regards Goldenfrazil’s legal action as irrelevant, purpose-oriented and without merit - the Spolana divestment was performed up to the top M&A standards and in accordance with legal requirements and the internal proceduresThe whole process of the Spolana sale (which was completed in the autumn of 2006) was carried out in a transparent and professional way. Several expert opinions (including fairness opinions) produced by renowned companies (BDO, Horwath TPA Consulting, and Deloitte) have confirmed that the sale procedure and price were correct. We provided all relevant information about this divestment to the shareholders, media and public immediately after the closing of the transaction (October 2006). We regard the step taken by Goldenfrazil as unsubstantiated.
UNIPETROL is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 UNIPETROL became part of the PKN ORLEN Group, the largest downstream oil company in Central Europe. UNIPETROL primarily focuses on crude oil processing, fuels distribution and petrochemical production. In all these areas UNIPETROL is one of leading players in both the Czech and Central European markets. It has about 4,000 employees. In 2006 UNIPETROL recorded revenues amounting to CZK 95 billion and a net profit of CZK 1.6 billion.
Contact:
Michaela Lagronová
Spokesperson
Unipetrol, a.s.
Mobile: +420 602 304 708
E-mail: michaela.lagronova@unipetrol.cz
www.unipetrol.cz