The company UNIPETROL, a.s announces that by the deadline set up as of February 06, 2006, regarding the bid for the purchase of the majority share of the company SPOLANA a.s.; UNIPETROL,a.s. received offers from 10 potential applicants. The companies which expressed the preliminary interest in SPOLANA are financial investors or operating business in the same industry, which follows the divestment process criteria.Selected applicants will receive an information memorandum on which they will be required to produce detailed offers.
Internal group of Unipetrol experts, supported by independent advisor will evaluate material received from abovementioned 10 bidders and will review whether the main criteria are fulfilled as mentioned bellow:
1. Financial viewpoint
2. Development assurance
3. Maintaing the co-operative relations within the UNIPETROL Group
We believe that it is in the best interest of UNIPETROL shareholders to ensure that SPOLANA will enter the cooperation with a strong partner that will assure further development of the operations. The selection process is going to take 2-4 months.