EUROPEAN COMMISSION CLEARS ACQUISITION OF ENERGA S.A. BY ORLEN S.A.
On 31 March 2020 the European Commission issued a non-opposition decision to the acquisition of ENERGA S.A. by PKN Orlen S.A. The SMM Legal team led by Prof. Maciej Mataczyński provided comprehensive legal support to PKN Orlen S.A. throughout the notification process. On top of this, Prof. Mataczyński represented the Client in the procedure before the European Commission.
‘The decision is a huge success for our Client, as the planned transaction is an important step in the pursuit of our Client’s strategic goals in the energy market. This has been one of the major procedures of this kind regarding the Polish market’, emphasized Prof. Maciej Mataczyński, Managing Partner at SMM Legal. ‘Thorough preparation and top level of competence of our energy and competition law teams have put our Client in the best position to succeed. Once again we have proved our effectiveness as business advisors in trailblazing cases’, adds Prof. Mataczyński.
The decision issued by the Commission is unconditional and declares the transaction compatible with the internal market.
‘What it means for PKN Orlen S.A. is that no measures are necessary in any of the relevant markets to acquire ENERGA S.A.’ , explains Miłosz Malaga, PhD, responsible for our Firm’s legal services in the area of competition law.
The team responsible for corporate services provided to the Client is managed by Tomasz Jaranowski. Magdalena Cisowska supports our competition law team.
The decision was issued at the first stage of the procedure, after 24 business days from the official notification of the intended merger lodged on 26 February 2020. The announcement of the decision was one of the conditions specified in the tender offer for 100% shares in Energa published on 5 December 2019.