Unipetrol Sees Positive Impact from Acquisition of Rafinerska Stake
PRAGUE, July 23 (Reuters) – Czech oil processing company Unipetrol expects to book an up to 400 million crown ($19.64 million) positive impact from the pending acquisition of a 32.4 percent stake in Ceska Rafinerska from ENI, head of investor relations Michal Stupavsky told Reuters on Wednesday.
Unipetrol used its right of first refusal in July and agreed to take the stake for 30 million euros in a deal that will give it 100 percent control of the refining unit.
Unipetrol took a 4.72 billion crown ($231.76 million) impairment charge on its refining assets in the second quarter due to overcapacity in the sector and past underperformance. ($1 = 20.3690 Czech Crowns)
(Reporting by Jason Hovet, writing by Jan Lopatka)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 12 Offshore Rigs
- Eni Looks To Strengthen Ties With Rosneft, Maybe In LNG (Oct 19)
- Eni Bets Big on Zohr Explorer Finding New Treasure (Oct 06)
- Eni Inks Cooperation Deal With China's CNPC (Sep 13)