PKN Orlen set to buy Unipetrol

By Patrick Raleigh, ERJ On-line news editor

Prague-PKN Orlen SA has submitted the only binding offer for a 63-percent stake in Czech petrochemicals group Unipetrol AS, the Czech government’s privatisation committee has announced. The Polish group’s offer of around Euro400 million is now subject to approval by the Czech government.

MOL Hungarian Oil and Gas and Shell Europe Oil Products were previously also named as selected bidders for Unipetrol, which reported 2003 sales of around Euro1870 million. PKN ORLEN and MOL have recently announced plans for a…

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