Although Mr Kownacki told the Polish publication that a merger, which would see Poland’s number one and two oil refiners join forces, would be profitable for those involved, he confirmed that no action has been taken. A company spokesman added that this would be up to the companies’ respective shareholders, AFX News revealed.
The two oil refiners are owned by Poland’s treasury ministry, and so any merger decision would have to be backed by the state, AFX News cited Mr Kownacki as saying. Although rumors surfaced that the conservative government’s treasury was planning to back the potential plans, the ministry has since denied this speculation, AFX News revealed.
Mr Kownacki is also reported to have cited the recent industry speculation of a merger between Austrian oil and gas player OMV and Hungary’s MOL as a potential catalyst to its merger with Grupa Lotos.
Mr Kownacki said: Sector consolidation has in recent years become a common thing in Europe. We would then be in line with the ongoing trend, and synergies would be numerous, in the Dziennik publication, as cited by AFX News.
