Shareholders of Polish PGNiG and Orlen voted for the merger

WARSAW, Oct. 10 — PRIME. Shareholders of the largest Polish fuel and energy concerns PGNiG and Orlen voted for the merger of the companies, TVN reports.

PGNiG shareholders spoke out on Monday in favor of a merger with Orlen.

At the end of September, Orlen shareholders voted for the merger with PGNiG.

4,959,494,443 PGNiG shareholders voted in favor of the decision to merge with Orlen, 133,903 voted against, 26,097 abstained.

At the end of July, PKN Orlen and PGNiG signed a merger plan that involves the transfer of all PGNiG assets in exchange for Orlen shares provided to PGNiG shareholders. In exchange for one PGNIG share, the company’s shareholders will receive 0.0925 group shares.

Previously, the Polish government has already agreed to Orlen with PGNiG. The Polish Office for Consumer Protection and Competition (UOKiK) also agreed to the merger. The deal is conditional on PGNiG relinquishing control over Gas Storage Poland, the gas storage operator.