European Commission opens investigation into PKN Orlen's proposed acquisition of Lotos
The EC is concerned that the merger may reduce competition in the supply of fuels and related markets in Poland and neighbouring countries.
The European Commission has opened an in-depth investigation to assess the proposed acquisition of Lotos by PKN Orlen, under the EU Merger Regulation.
“The proposed acquisition of Lotos by PKN Orlen would affect several strategically important energy markets. The Commission will investigate whether the proposed acquisition would reduce competition and lead to higher prices for or less choice of fuels and related products for business customers and end consumers in Poland and other Member States”, said Commissioner Margrethe Vestager, in charge of competition policy.
PKN Orlen and Grupa Lotos (Lotos) are two large Polish integrated oil and gas companies. They are both mostly active in Poland, where they own the only two existing refineries, but they also have activities in several other Central and Eastern European (CEE) countries as well as in the Baltic countries.
Both companies have a wide portfolio of products and are both active across the whole value chain of the supply of fuels.
At this stage, the Commission is concerned that the proposed transaction would reduce competition in several markets where the merged entity would be active. In particular, the Commission is concerned that the proposed transaction could lead to higher prices and less choice for business customers and end-consumers of several products, especially at fuel stations and airports.
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