Orlen eyeing Czech and Rumanian privatizations

On Monday, the Czech government announced plans to sell a 68% stake in its oil concern Unipetrol for at least EUR 361 million. Meanwhile, Rumanian officials have presented the final list of eight potential bidders to take over its refinery business, Petrom. The Rumanians expect around $1 billion for their oil business. PKN Orlen is taking part in both bids, with the hope of further building its market share. "The company, or companies that take over the concern, will be free to do whatever they like with the assets. It is possible, therefore, that some of the subsidiaries will be separated from Unipetrol," said Pavel Kuta, deputy president of the Czech privatization fund. The deadline for submitting offers is January 12, and Orlen signed an agreement last week with the Czech company Agrofert Holding to make a joint bid for Unipetrol. Both transactions are to be finalized in the spring. (Parkiet, p. 1) A.K.