PKN Orlen takes over Mazeikiu Nafta

PKN Orlen, the largest Polish petrochemical concern, paid $2.3bn to become the owner of an 84.36% stake in the Lithuanian refinery Mazeikiu Nafta.
PKN Orlen purchased a block of 53.7% shares from the Russian concern Yukos and another 30.66% from the government of Lithuania.

The PKN Orlen acquisition of the majority stake in Mazeikiu Nafta represents the largest investment in the refinery and petrochemical sector of Central and Eastern Europe of recent years. Concurrently, it is the largest foreign investment ever made by a Polish company. The transaction gives the region its largest enterprise in the refining and petrochemical industry, capable of processing 31.7 tonnes of crude a year, with 2,732 petrol stations in Poland, German, the Czech Republic and Lithuania.

Source: PMR. For more info Polishmarket.com