PKP Cargo and PKP Cargotabor Uslugi, its subsidiary, have withdrawn from the conditional agreement to acquire a 99.85% stake in Orlen KolTrans and ZCP Euronaft, part of Euronaft Trzebinia, from PKN Orlen group.
The transactions was halted because PKP Cargo did not receive a decision of the President of the Office for Competition and Consumer Protection (UOKiK), with unconditional consent for the merger through the acquisition of shares in Orlen KolTrans and ZCP Euronaft.
The decision of PKP Cargo to withdraw from the deal also followed the identification of several risk factors for the company in relation to the future of the market, the attitude of the social side to the ownership change, and the prolonged proceedings by UOKiK.
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