The Government of Lithuania has presented an official proposal to PKN Orlen to purchase the remaining one tenth of the shares in Mazeikiu Nafta.
The proposal has been sent on March 10 and the transaction is to be signed in the Economy Ministry in Vilnius over ten days after the submission of the notice, spokeswoman of Economy Minister Dainius Kreivys, who has been authorized to finish the transaction on the selling of Mazeikiu Nafta in the name of the Government, told ELTA.
PKN Orlen representatives have said that they would implement the conditions of the option and that they already had finances for that.
In line with the option agreement, the Poles will have to pay 284.45 million US dollars (about 750 million litas) for the remaining shares of the company. The Government plans to forward these finances into the Stabilization Fund.