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Poland reveals details of merger to create multi-energy giant

Energy Trade

Photo by Postmodern Studio / Shutterstock.com

Poland's state treasury will increase its stake in fuel giant PKN Orlen from 27.52% to 50%, State Assets Minister Jacek Sasin said on Wednesday, giving details of planned mega-merger that will create a giant Polish multi-energy provider.

Orlen is set to take over Poland's state-owned gas firm PGNiG and fuel firm Lotos.

Sasin said the consolidation would help the Polish economy to return to a path of rapid growth, reported the Polish Radio.

The merger of PKN Orlen and PGNiG will result in the emergence of Central and Eastern Europe's (CEE) largest multi-energy provider, a senior executive said last year.

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