Today, UNIPETROL, a.s., as a purchaser, and MEI-Tsjechië en Slowakije Fonds N.V., MIDDEN EUROPESE BELEGGINGSMAATSCHAPPIJ S.A. and BLUE MOUNTAIN, s.r.o., as sellers, executed the Share Purchase Agreements on purchase by Unipetrol from companies of the MEI Group of 14,51% shares of PARAMO, a.s.Prague, 9 November 2007 – The purchase price for the shares of Paramo shall amount to CZK 241,303,750. Paramo is a crude oil processing company engaged in fuels, lubricants and bitumen manufacturing. “As the oil processing belongs to Unipetrol’s core businesses, the purchase of the shares of Paramo shall enable us to strengthen the Unipetrol’s position within this business segment and to proceed with further restructuring of the Paramo with the aim to implement its more flexible management,” says François Vleugels, CEO of Unipetrol.
The transfer of the shares of Paramo from companies of the MEI Group to Unipetrol is subject to satisfaction of certain conditions precedent agreed between Unipetrol and companies of the MEI Group in the Share Purchase Agreements. It is expected that the closing of the transaction shall occur by the end of the year 2007.
UNIPETROL, a.s. 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 group is one of leading players in both the Czech and Central European markets. In 2006 UNIPETROL posted revenues amounting to CZK 95 billion and a net profit of CZK 1.6 billion. The UNIPETROL group employs approximately 4,000 people.
Contact:
Michaela Lagronová
Spokesperson
Unipetrol, a.s.
GSM: +420 602 304 708
E-mail: michaela.lagronova@unipetrol.cz
www.unipetrol.cz