Poland May Select Lotos Buyer By 2012

The Polish government is likely to select a buyer for its controlling stake in oil refiner Lotos by early next year.

The Polish government is likely to select a buyer for its controlling stake in oil refiner Lotos by early next year, Reuters reports. Russia’s TNK BP, Gazpromneft and Hungary’s MOL have shown interest in the stake, adds Bloomberg. The government, which is seeking to sell a 53% stake, has already twice delayed the deadline for placing initial offers. According to treasury minister Aleksander Grad, the buyer will have to agree to a number of additional conditions including committing to investment and allowing access to oil production.

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