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Czech News in English » Business » Czech groups bid USD 1.2 bln for PKN Orlen's Unipetrol

Czech groups bid USD 1.2 bln for PKN Orlen’s Unipetrol

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Czech energy holding EPH and investment group PPF have submitted a joint bid of about CZK 30 billion for downstream oil company Unipetrol, Hospodářské noviny said on Tuesday. Unipetrol is 63 percent owned by Poland’s PKN Orlen, whose biggest shareholder is the Polish state. Citing unnamed sources, the newspaper said PKN Orlen would take until the end of the summer to consider the offer and was hiring an investment bank.

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