PKN Orlen in talks to buy Grupa Azoty fertiliser company Pulawy

Grupa Azoty Zaklady Azotowe Pulawy SA

06/06/2023 12:43

GDANSK, June 6 (Reuters) - Polish oil refiner PKN Orlen
 PKN.WA  has begun talks with Grupa Azoty  ATTP.WA  to buy its
unit fertiliser producer Zaklady Azotowe Pulawy  ZAPP.WA , it
said on Tuesday. 
    PKN has begun due diligence on the potential acquisition and
Orlen Group Chief Executive Daniel Obajtek said he wants to
finalise the process by the end of the year.
    "Integration of two large manufacturers of nitrogen
fertilisers would mean an increase in production efficiency and
allow even more effective response to market needs," Obajtek
added.
    The companies provided no detail on deal valuation.



 (Reporting by Maria Gieldon and Anna Banacka in Gdansk
Editing by David Goodman)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))