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Czech companies EPH and Cepro team up for Unipetrol bid-report
September 4, 2015 / 7:33 AM / 2 years ago

Czech companies EPH and Cepro team up for Unipetrol bid-report

PRAGUE, Sept 4 (Reuters) - Czech energy company EPH and state oil product pipelines company Cepro plan to coordinate efforts to buy Unipetrol from Poland’s PKN Orlen , a Czech newspaper reported on Friday, citing two sources.

Media had reported in July that EPH made bid for downstream oil group Unipetrol, 63 percent owned by PKN Orlen, that valued the company at a 30 billion crowns.

Daily Hospodarske Noviny reported on Friday that if EPH succeeded in its bid for Unipetrol it could sell the group’s Kralupy refinery to Cepro, which has sought Unipetrol assets.

EPH declined to comment while Cepro was not immediately available. Cepro also did not comment in the newspaper report.

Last year, Czech Finance Minister Andrej Babis said the state, which controls Cepro, was interested in buying one of the country’s two oil refineries from Unipetrol.

But Industry Minister Jan Mladek told Reuters earlier this year that talks between the state and Unipetrol on the future shape and ownership of the Czech refining sector were “frozen”. (Reporting by Jason Hovet. Editing by Jane Merriman)

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