Acron reacts to the government’s decision
The Acron Group has held shares in Grupa Azoty since 2012.
“From then until now, the Acron Group has not actively participated in the management of the company, retaining the role of a portfolio investor. The Acron Group has operated strictly within the framework of the law. We consider the actions of the Polish authorities as unjustified, unjust and unlawful expropriation, and to put it bluntly – as robbery. the company argues.
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We also note that Radosław Kwaśnicki, who will act as interim manager, is a member of the Supervisory Board (Board of Directors) of one of the companies of the Orlen Capital Group, and also held a similar function in PKN Orlen SA in 2014-2019. Thus, a person who has a potential conflict of interest has been appointed manager, as the Orlen Capital Group also produces fertilizers and is a direct competitor of Grupa Azoty and Grupa Acron in some markets, and has recently announced its intention to acquire Grupa Azoty Puławy, a subsidiary of Grupa Azoty.
The government announces de-Russification in Grupa Azoty
The head of the Ministry of Entrepreneurship and Technology announced that Poland will look for a partner who will buy nearly 20 percent. frozen Grupa Azoty shares and will pay compensation.
The appointment of a temporary receivership assumes: determination of the market value of the acquired portfolios, determination of the entity/entities that will take over the shares, issuance of an administrative decision on the takeover, payment of compensation to a specific bank account (frozen funds), re-registration of securities to the acquiring entity/entities.
Attorney Radosław Kwaśnicki will act as the compulsory administrator.
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2023-07-13 11:29:54
#Russian #oligarch #loses #fortune #Poland #reaction #NEWS #MONEY.PL
