March 7, 2018 / 10:43 AM / 4 months ago

Merger between Poland's PKN Orlen and Lotos beneficiary: Lotos CEO

WARSAW (Reuters) - A planned merger between Poland’s PKN Orlen and Grupa Lotos is beneficiary for both companies, Marcin Jastrzebski, the chief executive officer of Lotos said on Wednesday.

FILE PHOTO: A man fixes PKN Orlen logo, Poland's top oil refiner, at their petrol station in Warsaw, Poland April 28, 2016. REUTERS/Kacper Pempel

“Nobody who has an interest in capital markets and oil companies has any doubt that such a merger is beneficial for both firms,” Jastrzebski told a press conference.

In late February, PKN Orlen said it plans to merge with Lotos. The two companies are the country’s biggest refiners and both are state-controlled.

Reporting by Anna Wlodarczak-Semczuk and Marcin Goettig; Writing by Lidia Kelly

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