Polski Koncern Naftowy ORLEN Spólka Akcyjna (WSE:PKN) agreed to acquire Polskie Górnictwo Naftowe i Gazownictwo S.A. (WSE:PGN) on July 29, 2022. Polskie Górnictwo Naftowe i Gazownictwo S.A. will be acquiring 14,161,080 shares of PKN Orlen. The sale of the transaction will be made in a block trade no later than on the first business day after signing the contract, and the settlement of the block trade will take place no later than on the first business day after both parties to the transaction place orders to sell and buy, respectively.

As of October 27, 2022 Polskie Górnictwo Naftowe i Gazownictwo S.A. top managers Iwona Waksmundzka-Oleniczak, chief executive officer, and Robert Perkowski, chief operating officer, have been appointed as new management board members by PKN Orlen. The merger has been approved by the polish government.