WARSAW, March 26 (Reuters) - Poland’s oil refiner PKN Orlen has extended the share subscription deadline in its bid to take over utility Energa to April 22 from April 9 due to the coronavirus epidemic, it said on Thursday.
PKN Orlen said in December it planned to take over Energa, offering 7 zlotys a share for the utility.
For the bid to be successful, Energa’s shareholders will have to subscibe to sell at least 66% of the company’s shares to PKN.
PKN Orlen said that due to the extraordinary situation related to the coronavirus epidemic, there was a possibility that this condition would not be met by the original deadline. (Reporting by Agnieszka Barteczko. Editing by Jane Merriman)