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Poland's PZU buys 14.2 million shares in PKN Orlen from state treasury

09/29/2022 | 12:48pm EST
FILE PHOTO: The logo of PKN Orlen, Poland's top oil refiner, pictured at a petrol station in Warsaw

GDANSK (Reuters) -Polish insurer PZU has signed a deal to buy 14,161,080 shares in Polish energy firm PKN Orlen from Poland's state treasury, PZU said on Thursday.

The insurer said it would buy the shares, representing a 2% stake at Orlen's Thursday closing price.

Orlen closed at 53.40 zlotys ($10.78) per share on Thursday, which puts the deal value at 756,2 million zlotys ($1.53 billion).

On Monday, the Polish government cleared the terms of Orlen's planned takeover of Polish gas firm PGNiG and said it would sell 2% of Orlen shares, as part of the merger.

($1 = 4.9554 zlotys)

(Reporting by Maria Gieldon and Karol Badohal; editing by David Evans)


ę Reuters 2022
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