The movement is already in the hands of Orlen, PZU and Alior

PKN Orlen takes control of the company Ruch by taking over 65 percent. its shares – the company said in a press release. Among other things, Orlen wants to develop the courier services segment and new catering and retail formulas.

– We’re opening a new chapter in Ruch’s history by only dealing with new shares issued by the company. By taking control, we can already take advantage of certain synergies that strengthen the business while taking our retail activities to the next level. Based on Ruch, we want to develop, among other things, the segment of courier services and new food and retail formulas. By making effective use of the assets of Ruch and the Orlen Group, we will significantly enrich our offer, said Daniel Obajtek, CEO of Orlen, quoted in the press release.

The acquisition of control of the company is the result of the decision by the general meeting of shareholders of Ruch to increase the company’s share capital, which is related to the issuance of new shares.

The remaining shareholders of Ruch will be PZU, PZU Życie and Alior Bank.

As mentioned, the group wants to develop the shopping area based on locations outside gas stations and extensive customer service.

“The retail segment in Poland has enormous potential. This is reflected in the results of PKN Orlen – it was only in the third quarter of this year that this area generated a record EBITDA of PLN 1 billion. At the same time, the development plans for retail activities are in line with the trends in Central and Eastern Europe “- it was written.

PKN Orlen submitted a conditional financing offer to Ruch on April 11, 2019 in connection with its intention to acquire a controlling shareholding in the company. The decision was preceded by a due diligence review of the company and the development of guidelines for restructuring activities.

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