UNIPETROL, a.s. (“Unipetrol”) informs that on 7 November 2013 it signed a share purchase agreement (SPA) with Shell Overseas Investments B.V. (“Shell”) based on which Unipetrol will acquire from Shell 152,701 shares of ČESKÁ RAFINÉRSKÁ, a.s. (“Česká rafinérská”) amounting to 16.335% of the Česká rafinérská’s share capital (“Transaction”). The acquisition price for the shares in the amount of USD 27.2 million will be financed from own financial sources of Unipetrol.

UNIPETROL, a.s. (“Unipetrol”) informs that on 7 November 2013 it signed a share purchase agreement (SPA) with Shell Overseas Investments B.V. (“Shell”) based on which Unipetrol will acquire from Shell 152,701 shares of ČESKÁ RAFINÉRSKÁ, a.s. (“Česká rafinérská”) amounting to 16.335% of the Česká rafinérská’s share capital (“Transaction”). The acquisition price for the shares in the amount of USD 27.2 million will be financed from own financial sources of Unipetrol.

Transaction is an opportunistic acquisition fully in line with Unipetrol Group Strategy 2013-2017 announced in June 2013 and supporting its execution thanks to increasing security of petrochemical feedstock supplies, faster implementation of Operational Excellence initiatives and strengthening long-term presence on the Czech market.

On the date of the share purchase agreement signing, 7 November 2013, Unipetrol owns 51.22% of the Česká rafinérská’s share capital. After completion of the Transaction expected at the beginning of 2014 Unipetrol shareholding interest will increase to 67.555% of the share capital. Moreover Unipetrol will secure the Qualified majority (QM) of votes in Česká rafinérská with 67.5% threshold.

ČESKÁ RAFINÉRSKÁ, a.s. operates refineries in Litvínov and Kralupy, currently the only two running refineries in the Czech Republic, with a total conversion capacity of 8.7 million tons of crude oil per year. The company is a joint venture (JV) of three shareholders as of 7 November 2013: UNIPETROL, a.s. 51.22%, ENI International B.V.  32.445% and Shell Overseas Investments B.V. 16.335%. It was established in 1995 and started operating in the processing mode with no sales activities as a cost-plus entity in 2003.

 

In Prague, 7 November 2013

UNIPETROL, a.s.

Reg. Announc. No. 22/2013