PKN Orlen ready to spread its wings over RG with Rotch

The President of oil giant PKN Orlen Zbigniew Wrobel informed the press that his company, along with British Rotch Energy, will place an offer on 17 October to acquire a 75% stake in the Gdalsk Refinery (RG). "We received an official invitation to join forces in the bid. Now we only have to receive permission from Nafta Polska to join the consortium," said Wrobel. Representatives of Russian Lukoil were very surprised by the move. According to Wrobel, Rotch would take over a 50% plus one share stake, while Orlen would get one share short of 25%. "This is a very lucrative proposition for us as two thirds of the costs will be borne by our partner, while we have day to day control over RG. This means we can create a synergy with RG and so prevent a trade conflict between two Polish refineries," added Wrobel. The Polish oil concern has pre-emptive rights if Rotch pulls out of the deal at anytime in the future. Treasury Minister Wieslaw Kaczmarek reminded PKN Orlen that they should be cautious before claiming ultimate victory as he will, "Thoroughly check what they, and other companies, really have to offer". (Puls Biznesu, pp. 1, 8) M.M.