- Unimot will invest at least PLN 450 million in the acquisition.
- The final agreement is expected by Q3 2022.
- The deal includes 9 fuel terminals and bitumen plants in Jasło and Czechowice-Dziedzice.
- Unimot will gain 410 thous. m3 fuel storage capacity and 500 thous. tonnes of bitumen annually.
Transaction Overview
The Unimot Group has signed a preliminary contract to acquire 100% of the shares of Lotos Terminale, which includes fuel terminals and bitumen production plants. The transaction involves taking over nine fuel terminals with a total capacity of 350,000 m3 and bitumen production plants in Jasło and Czechowice-Dziedzice. The final agreement is expected by Q3 2022, subject to conditions precedent and payment for the shares.
Fuel Terminals
The "Independent Logistic Operator" (ILO) business includes nine fuel terminals, five currently owned by Lotos Terminale and four by PKN Orlen. The total storage capacity will increase to 410,000 m3 after development works. Unimot will become the third-largest player in the fuel storage market, with additional capacity for aviation fuel and diesel oil storage in Szczecin.
Bitumen Business
The "bitumen" business includes bitumen production plants in Jasło and Czechowice-Dziedzice, separated from Lotos Asfalt. Unimot will also secure a 10-year contract for bitumen supplies and raw materials, amounting to 500,000 tonnes annually, making it the second-largest player in the bitumen market.
Financial and Advisory Details
The estimated investment for the transaction is at least PLN 450 million. The price will be adjusted based on net debt and working capital changes at the closing date. Unimot's advisors include mInvestment Banking, Andersen in Poland, Greenberg Traurig Poland, BDO, Ramboll Polska, Ramboll Environ Poland, KDCP Kancelaria Doradztwa Celnego i Podatkowego Rutkowski i Wspólnicy, and CSW Więckowska i Partnerzy.
