Lukoil and Rotch Energy finally place a bid for RG
Rotch Energy and Lukoil have finally placed a bid, reported at $300 million,
for a 75% stake in Poland's second largest oil firm, the Gdansk Refinery
(Rafineria Gdanska - RG) but did so well after the July 9 deadline. Nafta
Polska, the state agency in charge of privatization of the oil sector, is
now analyzing the bid but many doubts remain over the matter. According to a
source quoted by Puls Biznesu, Lukoil is to take a 100% stake in the company
created to buy RG and pay Rotch to withdraw from that company. However, such
a change would mean that Nafta Polska would have to open a new tender for RG
as, under the current terms, Rotch is supposed to have a majority stake in
the consortium. Meanwhile, Rzeczpospolita points out that the delay in
placing the bid could lead to a protest from rivals MOL of Hungary.
(Rzeczpospolita, p. B1, Puls Biznesu, p. 6) T.J.
