Orlen signs letter of intent starting acquisition process of GA Pulawy

Tomasz Gzell/PAP

Polish fuels group PKN Orlen has signed a letter of intent on the acquisition of Grupa Azoty Pulawy, a fertilizer producer, Daniel Obajtek, Orlen’s CEO, said on Tuesday.

Obajtek added they hoped to complete the purchase from Pulawy's parent company Azoty by the end of the year.

"The integration of two large producers of nitrogen fertilizers (Pulawy and PKN Orlen's chemical unit Anwil – PAP) would translate into higher production efficiencies and would allow us to meet the market's needs even better," Obajtek said in a press release.

Azoty's management board announced that "on June 6, 2023, a document on confidentiality and information sharing was signed between GA Pulawy, PKN ORLEN S.A. and Grupa Azoty S.A."

The document governs the principles of providing information as part of the GA Pulawy due diligence process, and does not oblige either party to carry out the transaction.