The purpose of the merger of both companies is organizational optimization of ORLEN Capital Group. The takeover of Mažeikių Nafta Trading House by ORLEN Lietuva will reduce the operating costs of ORLEN Lietuva Group and simplify its ownership structure.
The reorganization will reduce the costs of administrative and management services as well as corporate costs because of no further need to operate the subsidiary's bodies. ORLEN Lietuva assumed all rights and obligations of Mažeikių Nafta Trading House, thus gaining direct control over its subsidiaries in Latvia and Estonia - SIA ORLEN Latvija and OÜ ORLEN Eesti – and becoming the owner of all shares of these companies.
The process was completed on 9 December 2019.
ORLEN Lietuva information