PKN Orlen to pay for Mazeikiu Nafta this week
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This week, the Polish oil concern PKN Orlen intends to pay 227.56 million U.S. dollars (about 603.3 million litas) to the Lithuanian Government. It is the remaining sum of money for a holding of almost 10% of the oil refinery Mazeikiu Nafta. The agreement with the Lithuanian Government states that the deadline for transferring the sum is April 30, writes the daily Lietuvos Zinios.
On March 27, PKN Orlen transferred the first installment of 56.89 million U.S. dollars (about 150.8 million litas) or 20% of the entire sum to an escrow account in the SEB Bank.
After the transaction is finalized, the Government will receive a total of 284.45 million US dollars (about 754 million litas) and interest equaling the interest rate of six months at the London Interbank Offered Rate (LIBOR) in U.S. dollars and set by London's publication The Financial Times one working day before transferring the money.