Polish oil refiner and petrol retailer PKN ORLEN, a financial institution PZU, its subsidiary PZU Życie and universal bank in Poland Alior Bank, completed the acquisition of a majority stake in RUCH. Under the investment agreement, PKN ORLEN is to become the majority shareholder of RUCH, holding a 65% stake, with PZU, PZU Życie and Alior Bank as the other shareholders. Financial terms were not disclosed. ‘As previously announced, we are pursuing acquisition processes that complement PKN ORLEN’s business and help maximise profits in the long term. We are entering a next stage of the acquisition of RUCH’s assets, which is consistent with our strategic plans for the development of our retail network. We want to maximise business synergies in order to increase the value of both companies and expand their offering for our customers,’ said Daniel Obajtek, PKN ORLEN Management Board President.