As expected, rival bidders voices have emerged after the Lithuanian Government announced the buyer of Yukos’ 53.7% stake in Lithuanian refinery Mazeikiu could be PKN Orlen. KazMunaiGaz has announced yesterday it plans to increase its earlier US$1.2bn bid for Mazeikiu, probably in alliance with Sibneft, subsidiary of Gazprom –Reuter’s reported yesterday. The article also mentioned, TNK-BP and Lukoil were also rumoured earlier to have submitted a bid, which could show interest.
PKN declined to comment on the price it has offered recently for Mazeikiu (but earlier it submitted a US$1.49bn bid, which was said to be the highest bid, but was not allowed to go through by the Lithuanian Government), but PKN Orlen spokesman Dawid Piekarz confirmed that the Polish group had pledged to invest US$1 billion to modernise the refinery over the next five years if its offer is accepted, according to Reuter’s. This time the Lithuanian Government said, it won't oppose the sale of Yukos' stake.
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