Polish Briefing 15 July, 2020 11:00 am   
Editorial staff

Polish Briefing: Orlen does not resign from further acquisitions. PGNiG will be next

What goes on in Poland on the 15th of July.

Orlen does not resign from further acquisitions. PGNiG will be next

Prime Minister Mateusz Morawiecki commented on the merger of Orlen and Lotos. – I wanted to thank and congratulate this process. This is one of the most important operations of the Polish economy. Very important investments in research and development – he said. According to Morawiecki, the takeover of PGNiG by Orlen is a matter of time.

– To carry out these investments, capital strength is needed, which arises when there is economies of scale. In European scale, our companies are small. We must compete with BP and Shell. What we see here increases the chances of competition – said Morawiecki.

The prime minister admitted that the current jobs in Lotos remain unchanged. – There will be increased employment in the most technologically advanced segments. We need professionals and specialists who increase capital strength – he said.

The Prime Minister emphasized that PKN Orlen wants to present a plan to acquire PGNiG. – We will start the process of further integration of our champions, the next step is the takeover of PGNiG by PKN Orlen, increased by Lotos – he noted. Orlen may receive permission to take over PGNiG in a year. The permit must be issued by the European Commission.