Finance M&A
21:48 14 July 2020
Post by: WBJ

Poland’s ruling party aims to create energy giant

Poland’s ruling party aims to create energy giant
Representative image. Source: pexels.com

Poland has laid out plans to merge four of its largest energy groups in a move the government hopes will create a major regional player, with the country’s largest refiner PKN Orlen taking on the risk of another large deal.

The country’s ruling right-wing nationalist and populist Law and Justice (PiS) party has sought to increase state control over the economy, halting privatizations and merging some state-controlled companies, with PKN leading the consolidation drive. “We are building a powerful global multi-energy group in Poland,” claimed State Assets Minister Jacek Sasin.

PKN Orlen on July 14 received conditional EU antitrust approval to take over smaller rival Lotos and said it plans to buy Poland’s largest gas company PGNiG, having already acquired utility Energa this year.

The Polish state is the biggest shareholder in PKN Orlen, Lotos and PGNiG.

(Reuters)

poland
pgnig
pkn orlen
lotos
polish
oil and gas

More News

lifestyle

LifeStyle
1 month ago

Doda Promises Emotions and Surprises at Polsat Hit Festival in Sopot

LifeStyle
1 month ago

New Culinary Concept Opens in Warsaw’s Kamionek District

LifeStyle
2 months ago

Mercedes-Benz Unveils Sleek New CLA with Electric Power and AI Tech

LifeStyle
2 months ago

Klaudia Zioberczyk Advocates for Minimalism Amidst Rising Modeling Career

Book of Lists

Book of Lists
4 years ago

The largest Polish companies under the Book of Lists microscope! Book of Lists 2020/2021 certificates have been awarded.

Book of Lists
5 years ago

25th jubilee edition of Book of Lists – project start