The international law firm CMS has advised MOL on the acquisition of a package of petrol stations from Grupa Lotos S.A., the sale of a package of petrol stations in Hungary and Slovakia by MOL to PKN Orlen, and the acquisition of Lotos Biopaliwa by Rossi Biofuel Zrt
CMS Law Firm has advised on transactions related to the pending merger of Grupa Lotos S.A. and PKN ORLEN S.A. on the implementation of remedies resulting from the European Commission’s conditional decision.
An interdisciplinary team of CMS lawyers represents the Hungarian MOL in the acquisition of 100% of shares in Lotos Paliwa, which owns, among other things, a package of 417 petrol stations in Poland.
The transaction value was set at nearly USD 610 million, with a variable element depending on the company’s debt and working capital. The sale of the fuel station network by Lotos Group is necessary to carry out its planned acquisition by PKN Orlen.
CMS lawyers also advised on the sale by MOL to PKN Orlen of 185 service stations located in Hungary and Slovakia for a total of USD 259 million. The sold assets include 144 fuel stations in Hungary and 41 stations in Slovakia.
CMS lawyers also participated in the acquisition of Lotos Biopaliwa by the Hungarian company Rossi Biofuel Zrt.
“On behalf of CMS, I would like to thank our clients for entrusting us with this responsible work. The successful conduct of parallel negotiations in related M&A projects shows how strong the CMS transaction team currently is”, comments Rafał Zwierz, partner who heads the M&A team at CMS law firm.
“This transaction is an example of how complex and multithreaded M&A projects are. The combination of our transactional experience and broad regulatory knowledge enabled us to smoothly carry out one of the most demanding M&A processes on our market”, said Błażej Zagórski, partner in the M&A team at CMS.
Łukasz Szatkowski, partner in the energy and projects practice at CMS, emphasises, in turn, that these transactions are among the most significant ones in the energy sector in recent times.
The work of the CMS team was led by partners Łukasz Szatkowski, Błażej Zagórski, Rafał Zwierz and Piotr Ciołkowski. The team also included senior associates: Rafał Burda, Piotr Prawda, Magdalena Zmysłowska, Grzegorz Pączek, Adam Kędziora, Jagoda Nowakowska as well as associates: Szymon Klimkowski, Anis Ben Amer, Paweł Ura, Michał Tutaj, Mateusz Mazur and Patrycja Styczyńska.
Małgorzata Urbańska, partner, and Krzysztof Sikora, senior associate, advised on competition law.
Advice on environmental protection law was provided by Agnieszka Skorupińska, partner, and Wojciech Szopiński, senior associate.
Maciej Olejnik, senior associate, advised on issues related to intellectual property law. Helen Rodwell and Eva Talmacsi from CMS Hungary led the work on the sale by MOL of the fuel station package located in Hungary and Slovakia, supported by Eliska Copland and Moritz Kopka.