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Merger of Orlen with Lotos and sale of assets to the Saudis. Findings of the Supreme Audit Office

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– It turns out that, as one of our interlocutors said (…), there was Daniel “I can do everything” Obajtek and Jacek “I can do nothing” Sasin – this is what Dariusz Kubik says about the background of the merger of Orlen with Lotos and the sale of its part to the Saudis , reporter of “Black and white”. Together with Łukasz Frątczak, they obtained the latest report of the Supreme Audit Office on the merger. According to the Supreme Audit Office, Saudi Aramco paid PLN 7 billion 200 million less for the Lotos part than it was worth.

In July 2023 Supreme Chamber of Control prepared a report regarding, among others, merger of Orlen with Lotos after inspection by the Ministry of State Assets. “Black and White” journalists Łukasz Frątczak and Dariusz Kubik found the still unpublished document.

A broader discussion of the entire report obtained by TVN24 reporters, including the translation Jacek Sasin in the coming days in “Black and white” on TVN24 and TVN24 GO. On TVN24, Dariusz Kubik revealed what would be included in the report.

– Let’s just say that the Supreme Audit Office has not yet published this data, this is what we (reporters of the “Black on White” program – editor’s note) found out about its report, which concerns, among others, the merger of Orlen with Lotos – he emphasizes Kubik.

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The reporter noticed that NIK auditors entered, among others, the Ministry of State Assets, managed by Jacek Sasin, and checked what was in the documents.

– According to their calculations, the transaction package that the Saudis bought from us, i.e. a 30 percent share in the refinery and the right to half of the refinery’s products, also belongs to two other fuel companies. It was sold for PLN 2 billion 200 million, more or less. However, according to NIK auditors, it should have been sold by PLN 7.2 billion more. That’s almost PLN 9.5 billion, Kubik pointed out. – Now you can imagine… Jacek Sasin is famous for these envelope elections in which we are talking about PLN 70 million, and here we are talking about PLN 7 billion. Many times this amount – he added.

Jacek Sasin knew, but he didn’t know…

Dariusz Kubik said that “NIK auditors also checked that the Minister of Assets, Jacek Sasin, had his valuations for the assets that we sold to the Saudis.”

– We have just said that the Supreme Audit Office calculated their value at PLN 9.400 million. Advisors to Minister Sasin, who applied for consent to the merger from the Council of Ministers, calculated that these assets should be worth approximately PLN 6 billion, but they were sold for almost three times less. This report is truly shocking and devastating, he said.

Kubik points out that these are shocking amounts that may seem abstract. – Hardly anyone remembers that a billion is a thousand million – reminded the host Krzysztof Górlicki.

– Incredible amounts and this report is very critical for Mr. Sasin. NIK writes that the minister failed to protect Poland’s interests. Do we need a stronger negative review for a politician who should act in the interests of the state? The minister explained that he simply did not have access to contracts or documents related to transactions. It turns out that, as one of our interlocutors said in the reportage that we will soon present to you, there was Daniel “I can do everything” Obajtek and Jacek “I can do nothing” Sasin – said Kubik.

More information can be found in: How was one of the most valuable Polish companies sold? We know the full report of the Supreme Audit Office

Main photo source: Fakty TVN



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