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Poland's Grupa Lotos may sell freight unit Lotos Kolej in 2014 - report.

M2 EQUITYBITES-October 30, 2013-Poland's Grupa Lotos may sell freight unit Lotos Kolej in 2014 - report(C)2013 M2 COMMUNICATIONS

30 October 2013 - Polish oil refiner Grupa Lotos (WAR:LTS) may dispose of part or all of its rail freight business Lotos Kolej SP in 2014, Polish news agency PAP said citing the company's CEO, Pawel Olechnowicz.

The group is evaluating the sale of non-core assets and will make a decision by the end of the year, Lotos officials said at a press conference on Tuesday.

Earlier this year, Reuters quoted unnamed sources as saying that the company might sell its freight unit in a transaction that could be valued at up to PLN1bn (USD328m/EUR239m).

Lotos Kolej is the country's second-largest player in the rail freight sector after state-owned PKP Cargo.

PKP Cargo has already expressed interest in acquiring its smaller peer, PAP added.

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Publication:M2 EquityBites (EQB)
Date:Oct 30, 2013
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