Orlen S.A. (WSE:PKN) has found a way to acquire 100 % of Energa SA (WSE:ENG) shares. The possible conclusion of this story is only the beginning of a new chapter concerning the future of Energa within Orlen Group and its continued presence on the stock market. Orlen has asked the management board of Energa to convene an extraordinary general meeting with an item on the agenda concerning a resolution to increase the company's capital by issuing shares worth PLN5.106 billion in a closed subscription, but with pre-emptive rights.
Orlen has declared its intention to acquire shares in Energa in the increased share capital. Energa is one of the most indebted companies in the sector. Therefore, Orlen announced its intention to recapitalise it in order to restructure its balance sheet by restoring debt ratios to market levels and financing development activities.
