Privatisation of Unipetrol and sale of its certain liabilities
- Privatisation of Unipetrol
Unipetrol is a holding company with controlling or substantial interests in refining, fuel retailing and production of petrochemicals, fertilizers, specialty chemicals and plastics processing. In 2004, Unipetrol’s consolidated profit ran to CZK 3.68 billion at the turnover of CZK 87 billion. According to the press release of National Property Fund of the Czech Republic from 24 May, 2004, PKN Orlen paid CZK 11.304 billion for the transaction and as a consequence of this measure the process of Unipetrol privatisation has been successfully closed.
On the base of an additional audit of KPMG in the Unipetrol company, the purchase price was adjusted by CZK 1.645 billion for the benefit of National Property Fund. According to the press release of National Property Fund the total purchase price of Unipetrol shares and CZK 12.949 billion in total. It is the third largest privatisation transaction in the history of the Czech Republic.
- Sale of certain liabilities of Unipetrol Group
WestLB, EEIP and McKinsey assisted as a consortium of financial advisors also at the sale of certain Unipetrol Groupliabilities in the possession of Czech Consolidation Agency (ČKA). Purchase price of ČKA receivables reached CZK 1.745 billion.
