Buyer for Preem

Alan Heath
20-05-2002, 00:00

For the past two years the Swedish fuel concern Preem has been losing money and it has decided that further investments in its retail unit are not worthwhile.

It is therefore seeking a buyer for its Polish business which has more than eighty petrol stations.

One of these potential buyers is the Gdańsk refinery, which due to the comparitively small number of its petrol stations, is losing market share to PKN Orlen and western concerns.

The advantages of such a deal for Gdańsk are that no only would it eliminate a competitor which has been seeking the same market but also it would be able to increase the number of its own outlets.

Now all depends on the fate of the privatisation process of the refinery.

If the refinery is sold to a branch investor then Preem will undoubtedly move to have a deal done very quickly.

Preem moved to closer relations with the refinery on 15 March when it signed a deal to buy at least 250m litres of engine oil worth PLN500m this year which reduces its import costs. It is now seeking a deal on heating fuel.

Preem is not just talking to the refinery. It is negotiating with foreign concerns such as Statoil and BP. However Preem is unlikely to interest Shell.

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Podpis: Alan Heath

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Puls Inwestora / Buyer for Preem