Today, the company authorities of Orzeł Biały S.A. received the decision of the President of the Office of Competition and Consumer Protection UOKiK regarding the acquisition of Baterpol. The Office President did not approve the merger of the two entities.
Referring to the decision made, the President of the OCCP stated that the merger would lead to the elimination of the competition on the market of hazardous waste processed from spent batteries and accumulators.
– The reason why we strive to purchase Baterpol is in possible synergies and thus the possibility to secure the condition of Orzeł Biały S.A. Group ahead of any economic crisis. We submitted adequate explanations to the President of the Office that the purpose of the purchase of Baterpol sp. z o.o. was to achieve synergies and thus to secure the condition of Orzeł Biały S.A. Group ahead of any economic crisis. The combined strengths of the two companies with the same business profile would, in our opinion, overcome the associated problems. Still, we strongly believe that the approval of the President of the OCCP for the merger of Orzeł Biały with Baterpol would be beneficial both for the continued operations of both companies in light of the progressing consolidation processes in the world and in the face of the economic crisis and the environmental safety of our country. Therefore, Orzeł Biały intends to take advantage of the options available to appeal against the decision – says Zbigniew Rybakiewicz, President of the Management Board of Orzeł Biały S.A.