Poland Lost Money, Control in Orlen-Lotos Merger, Premier Says
- State-run Orlen bought Lotos under previous administration
- Tusk’s cabinet will look into all deals made by predecessors
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Poland will probe the merger of its two biggest refiners as the country’s new government accuses outgoing managers of losing cash on the transaction that also saw Saudi Aramco taking its first stake in a refinery on the Baltic Sea.
The government in Warsaw expects the incoming executives at the state-controlled companies to help disclose all the potential wrongdoing of the previous cabinet, Premier Donald Tusk told reporters on Tuesday as prosecutors initiated a probe into Orlen SA’s acquisition of smaller rival Grupa Lotos SA.