March 7, 2018 / 10:41 AM / 9 months ago

Merger between Poland's PKN Orlen and Lotos beneficiary: Lotos CEO

FILE PHOTO: A man fixes PKN Orlen logo, Poland's top oil refiner, at their petrol station in Warsaw, Poland April 28, 2016. REUTERS/Kacper Pempel

WARSAW (Reuters) - A planned merger between Poland’s PKN Orlen and Grupa Lotos is beneficiary for both companies, Marcin Jastrzebski, the chief executive officer of Lotos said on Wednesday.

“Nobody who has an interest in capital markets and oil companies has any doubt that such a merger is beneficial for both firms,” Jastrzebski told a press conference.

In late February, PKN Orlen said it plans to merge with Lotos. The two companies are the country’s biggest refiners and both are state-controlled.

Reporting by Anna Wlodarczak-Semczuk and Marcin Goettig; Writing by Lidia Kelly

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