May 16, 2018 / 3:13 PM / 4 months ago

Polish refiner PKN to buy small stake in BOS bank

WARSAW, May 16 (Reuters) - Poland’s biggest oil refiner PKN Orlen will buy 2.5 million shares in state-run bank BOS as part of a plan for the pair to cooperate on investment in renewable energy, PKN said on Wednesday.

BOS said on Tuesday that investors bought its 30 million shares for 300.7 million zlotys under its offer of up to 40 million new shares. BOS capital consisted of 62.84 million outstanding shares before the share issue.

PKN said that based on a letter of intent signed with BOS, the companies will conduct talks in order to develop a framework for cooperation on projects related to environment protection and green energy.

Reporting by Agnieszka Barteczko; Editing by Elaine Hardcastle

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