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Shotgun marriage for RG with PKN Orlen?

Oil giant PKN Orlen awaits a full merger with its competitor Gdañsk Refinery (RG) and wishes to avoid the term “takeover”, but that is what it looks like. “The conflict is on whether it will be a merger, or if we just take part in the privatization. Businessmen, analysts and me personally opt for the merger,” explained Orlen president Zbigniew Wróbel. He added that Nafta Polska (NP), the body responsible for the privatization of the oil sector, is against such a concept.

NP president, Maciej Gierej, believes that the most important issue is to guarantee the future development of RG and to give it a clear position in Orlen's strategy. According to various sources, in December the PKN supervisory board decided that the company wants a full merger with RG. “Our aim is joint central management,” Wróbel said, adding that PKN plans to sell all lubricating oils under the Lotos name and leave production in Gdañsk.

(WBJ 31.i.03)

 
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