Printer Friendly

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 http://www.m2.com

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.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Oct 30, 2013
Words:159
Previous Article:Novation Holdingsa[euro](tm) StarPoint USA subsidiary opens new office in North Carolina.
Next Article:Range Resources Corporation swings up to GAAP earnings of USD19m in Q3 2013.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters