PKN Orlen plans further acquisitions

APA - Austria Presse Agentur
23-08-2006, 10:18

Warsaw (Puls Biznesu) – The Polish fuel giant, which has recently bought Mazeikiu Refinery, plans new acquisitions abroad. The decisions will probably not be made soon, however.

Warsaw (Puls Biznesu) – The Polish fuel giant, which has recently bought Mazeikiu Refinery, plans new acquisitions abroad. The decisions will probably not be made soon, however.

 

PKN Orlen considers further foreign acquisitions.

“It is too early to talk about details. It’s worthwhile considering interesting transactions, especially that there are not many left. For the time being we focus on our recent acquisitions”, Igor Chalupec, PKN Orlen CEO said.

According to unofficial sources, the fuel giant is interested in gas station chains. Analysts believe that buying gas station chains in the region would be a good idea to strengthen PKN Orlen’s position. Chains in the Czech Republic would strengthen Benzina chain, which is owned by Unipetrol, acquired by PKN Orlen last year.

“There are many companies to buy on this market”, Igor Chalupec said.

Analysts prompt the following directions: Germany, Slovakia, Hungary,or Lithuania where PKN Orlen is buying a refinery.

“The Lithuanian refinery has only 30 stations. It is necessary to further develop its network. It will be easier to do it by buying ready stations”, Andrzej Paslawski, BDM PKO BP analyst commented.

 

PKN Orlen is also planning further investment in the refinery sector. The Latvian market may be the first directions of transactions. PKN Orlen has recently checked what the Latvian government plans to sell – it is a 38.62 percent stake of Ventspils Nafta for PLN 390m (EUR 99.8m).

“We are watching this company closely and we are analyzing whether this project makes sense. We have had many meetings with the Latvian agency of privatization, the ministry of economy and Ventspils’ biggest shareholder – Latvijas Naftas Tranzitis. The latter is not interested in increasing its stake. If we believe that the company is interesting we will take measures to buy it. We will soon make the decision, I believe”, Igor Chalupec said.

According to media information, Russian Rosnieft and Kazakh KazMunaiGaz are PKN Orlen’s biggest rivals. Igor Chalupec admitted that his company is also closely watching a Serbian company – NIS.

 (PLN 1 = EUR 0.256)

 

© ℗
Rozpowszechnianie niniejszego artykułu możliwe jest tylko i wyłącznie zgodnie z postanowieniami „Regulaminu korzystania z artykułów prasowych” i po wcześniejszym uiszczeniu należności, zgodnie z cennikiem.

Podpis: APA - Austria Presse Agentur

Najważniejsze dzisiaj

Polecane

Inspiracje Pulsu Biznesu

Tematy

IT

Puls Biznesu

Inne / PKN Orlen plans further acquisitions