May 14, 2019 / 2:45 PM / 2 months ago

PKN to set terms for EU merger application to takeover Lotos in next 12 months

KATOWICE (Reuters) - Poland’s biggest oil refiner PKN Orlen should be ready in the next 12 months to set the terms on which to apply to the European Commission to takeover Lotos, Poland’s second largest oil refiner, PKN Orlen’s deputy CEO said on Tuesday.

“We are counting on it that in the next dozen or so months we will work out the terms on which we can apply to the EU for a merger with Lotos,” Zbigniew Leszczynski said at a conference.

Reporting by Wojciech Zurawski and Agnieszka Barteczko, Writing by Joanna Plucinska

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