The Polish government has canceled the sale of Lotos (formerly Rafineria Gdanska) to a consortium of PKN Orlen/Rotch Energy.
PKN Orlen might now be expected to step-up its effort to win the Unipetrol privatization tender (the Czech state is to sell its 63% stake in the petrochemical holding), increasing the likelihood of more aggressive tender bidding and, therefore, a higher subsequent buyout price for minority shareholders (the buyout price is to be set at 85% of the realized privatization price). Positive.
Jiří Soustružník