"One of the most shocking cases." The turbulent circumstances of Saudi Aramco's entry into Poland

The merger of Orlen and Lotos faced scrutiny due to historical risks and economic justification issues. The Supreme Audit Office (NIK) reported that the merger lacked economic rationale and that key assets were undervalued, leading to potential economic losses for the state. The European Commission imposed stringent conditions for the merger, including asset sales that diminished its profitability. Despite concerns, the merger proceeded, resulting in the entry of foreign investors like Saudi Aramco. NIK criticized the previous management for not providing adequate justification for the merger's benefits and for obstructing audits. An ongoing investigation is examining irregularities related to the merger and asset sales.