PKN Orlen pre-notifies EC on merger with Lotos

PKN Orlen sent complete analysis of the merger with Grupa Lotos to the European Commission (EC), as part of the pre-notification process - PKN Orlen CEO Daniel Obajtek informed. "We are in constant talks with the EC and we want to prove that the merger is not a threat to competition on the Polish retail market. We do not know what the EC's recommendations will ultimately be. We are prepared for various options and scenarios," Obajtek commented. PKN Orlen expects the European Commission should give its consent for the merger by the end of the first half of 2019. Then, in Q3 2019, the procedure related to the acquisition of Lotos will be conducted. Orlen intends to keep the refinery in Gdańsk as a separate company so that taxes from this refinery would feed the local self-government. "We are also planning to maintain employment in Lotos at the current level," Orlen CEO added.