The majority of the opposition in the Senate tries to block the merger

Despite the fact that in mid-March the Platform senators miserably lost the vote on the resolution on blocking the merger between Orlen and Lotos (only 28 votes for, no less than 51 against, 19 stops), they try to stop this process at the current meeting.

This time it is a draft amendment of the Senate to the law on the principles of management of state assets of December 16, 2016, in which the senators are trying to introduce an additional article blocking the possibility of selling shares. state treasury companies.

The most bizarre provision contained in the proposed amendment is the justification for this blockade by Poland requesting consultations in accordance with Article 4 of the North Atlantic Treaty.

Indeed, on the day of Russia’s invasion of Ukraine, Poland, together with the Baltic States, submitted a request to the Secretary General of NATO to launch Article 4, which reads: ” The parties shall consult each other whenever, in the opinion of either of them, the territorial integrity, political independence or security of any of them will be threatened by Stron”, which, in the situation of a full-scale war beyond our eastern border, was simply a given.

But for this conclusion to prevent the emergence of a national champion in the energy sector, which must guarantee, on the one hand, the energy security of our country, and, on the other hand, allow the implementation of EU climate policy, these are the Himalayas of PO politicians’ hypocrisy.

Further attempts to block the merger between Orlen and Lotos while it is being finalized (this process is due to be completed in August), as the connection with PGNiG is also becoming more advanced, appears to be sabotaged by the opposition.

At that time it turned out that the merger of Orlen with Lotos, with the participation of Saudi Aramco, will allow Germany to become independent of oil supplies from Russia, it will be delivered by the Saudis to the Germany via the oil port of Gdańsk.

Recall that in May this year, a cooperation agreement was signed between PKN Orlen and Grupa Lotos, PGNiG and the State Treasury, regarding the takeover of these two companies by the oil company Płock.

Under this agreement, the parties have confirmed that the entire assets of the two acquired companies will be transferred to PKN Orlen, for the shares that Orlen will allocate to their current shareholders.

According to State Assets Minister Jacek Sasin, in the new entity created after the takeover by PKN Orlen Lotos and PGNiG, the State Treasury will increase its shares to 50%, which will protect it against a hostile takeover.

In turn, the chairman of PKN Orlen, Daniel Obajtek, pointed out that after the merger of these three companies, an entity will be created with a capitalization of about PLN 78 billion, annual revenues of PLN 200 billion, a EBITDA profit of around PLN 20 billion and great investment opportunities.

In this way, our country will create a huge multi-energy company, even for European conditions, capable of new acquisitions on the world market, as well as making large investments in this sector, including renewable energies.

The takeover by PKN Orlen, Lotos and PGNiG means the creation of much greater financial possibilities than before, which will allow the implementation of large multi-billion dollar investment projects beneficial to the Polish economy and the environment. .

This includes the construction of offshore wind farms, supported by the European climate policy (Green Deal Strategy), but also the entry of these three companies into new areas of activity.

It is also extremely important that despite the merger of PKN Orlen and the Lotos Group and the leading position of the first company, Lotos will retain tax separation, which means that both the Gdańsk budget and the government budget local of the Pomeranian Voivodeship receive taxes from Lotos under the same conditions as hitherto.

This issue should be particularly highlighted, as Platform politicians have launched a disinformation campaign in the Pomeranian region in order to arouse public opposition from its inhabitants.

The United Right, however, differs markedly from the PO-PSL government, as it does not sell family silverware (Donald Tusk’s government was about to sell Lotos to Russians and only the passage of the Civic Bill has blocked this possibility), and on their basis, it builds companies which correspond to this European potential.

The new multi-energy company’s annual revenues of around PLN 200 billion and profits of PLN 20 billion per year will place it among the largest European companies in the energy sector.

And it is probably that the creation of such an entity is unacceptable for the politicians of the PO, that is why they use all means to block it, even as dizzying as the proposal of this Senate to amend the reasoned law through consultations with NATO.

Leave a Comment