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PKN Orlen Wins Arbitration Case Against Agrofert

7:23 AM MDT | November 4, 2010 | Ian Young

Refinining and petrochemical company PKN Orlen (Plock, Poland) says it has won the latest in a series of arbitration cases against holding company Agrofert (Prague) concerning PKN's acquisition of refining and petchems firm Unipetrol (Prague) earlier this decade. The acquisition formed part of a privatization program by the Czech government. It is the fourth case brought by Agrofert, which was seeking damages of CzK19.5 billion ($1.1 billion) from PKN. PKN agreed in 2004 to sell stakes in Unipetrol subsidiaries Agrobohemie (Prague) and Synthesia (Pardubice, Czech...

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