Poland's PKN eyes petrol stations in Germany-German chief
FRANKFURT Aug 20 (Reuters) - Poland's largest refiner PKN Orlen aims to buy petrol stations in Germany to expand its network in Europe's biggest economy, the chief of PKN's German business told a newspaper.
"Over the coming five years, we want to grow our network of petrol stations under the Star brand from almost 570 to as many as 750," Frankfurter Allgemeine Zeitung quoted Michal Brylinski as saying.
PKN is looking for takeover candidates especially in the southern German state of Bavaria to complement its network in western, northern and eastern Germany, the paper said.
Brylinski said the most likely takeover targets were independent filling stations as bigger rivals are currently also more interested in expansion than divestments.
"Margins are tight, but still none of the big rivals wants to sell petrol stations," Brylinski said.
According to the paper, PKN has a market share of about 4 percent in Germany, giving it the seventh-biggest chain of petrol stations in the country behind rivals including Aral , Shell, Jet and Avia.