We advised Gaz-System on its purchase of Gas Storage Poland from Orlen

15.03.2024 Case studies Mergers and acquisitions (M&A) Private Equity Labor law, management contracts Intellectual property law Energy, public procurement, infrastructure projects Competition and consumer law

We provided legal support to Gaz-System S.A. in execution with Orlen S.A., on 14 March 2024, of a conditional share purchase agreement for a 100% stake in Gas Storage Poland, the sole entity licensed by the Polish Energy Regulatory Office to store gaseous fuels and operator of the gas fuels storage system in Poland.

Actual acquisition of the shares is predicated upon obtainment of antitrust clearance from the Polish Office of Competition and Consumer Protection (UOKiK).

Orlen’s divestment of Gas Storage Poland, in turn, was a condition formulated by UOKiK in its decision clearing the merger of Orlen and PGNiG.

We served as legal advisors throughout the transaction process. Apart from drawing up and negotiating the transaction documentation, we also conducted due diligence of Gas Storage Poland and is subsidiary, analysed the antitrust aspect of the transaction, and prepared the filing to UOKiK.

Gaz-System, wholly owned by the Polish State Treasury, is a strategic company which manages the flow of natural gas – it manages the major gas pipelines running through the country as well as the under-sea Baltic Pipe line, and it owns the LNG terminal in Świnoujście. Once they are brought together within a single corporate group, Gaz-System and Gas Storage Poland will ensure added security and integrity of the gas relay system in the event of any emergencies.

For GESSEL’s part, Aleksandra Szyszko-Kamińska led a project team composed of Agnieszka Nowacka, Aleksandra Głuszek, Daria Golus, Dominika Lara, Erazm Dutkiewicz, Hubert Wiśniewski, Iwona Gielo, Marcin Walczak, and Wiktoria Bednarska-Busz.

Bernadeta Kasztelan-Świetlik and Natalia Leśna are responsible for the antitrust aspect.

Lawyers involved in the project