FILE PHOTO: The logo of PKN Orlen, Poland’s top oil refiner, is pictured at a petrol station in Warsaw, Poland April 25, 2019. REUTERS/Kacper Pempel/File Photo
June 26, 2020
BRUSSELS (Reuters) – Poland’s biggest refiner PKN Orlen <PKN.WA> is set to secure EU antitrust approval for its takeover of smaller rival Lotos <LTSP.WA> after tweaked concessions offered to address competition concerns, people familiar with the matter said.
PKN last month offered to sell Lotos’ stake in a joint venture with BP <BP.L> called LOTOS – Air BP Polska (LABP) and also pledged to supply jet fuel to LABP with the aim of creating a viable competitor, other sources had told Reuters.
The company subsequently made some minor changes to the package after the European Commission sought feedback from rivals and customers, one of the people said.
(Reporting by Foo Yun Chee; editing by Marine Strauss)
