Rotch Energy and Lukoil have finally placed a bid, reported at $300 million, for a 75% stake in Poland's second largest oil firm, the GdaЯsk Refinery

Rotch Energy and Lukoil have finally placed a bid, reported at $300 million, for a 75% stake in Poland's second largest oil firm, the GdaЯsk Refinery (Rafineria GdaЯska - RG) but did so well after the July 9 deadline. Nafta Polska, the state agency in charge of privatization of the oil sector, is now analyzing the bid but many doubts remain over the matter. According to a source quoted by Puls Biznesu, Lukoil is to take a 100% stake in the company created to buy RG and pay Rotch to withdraw from that company. However, such a change would mean that Nafta Polska would have to open a new tender for RG as, under the current terms, Rotch is supposed to have a majority stake in the consortium. Meanwhile, Rzeczpospolita points out that the delay in placing the bid could lead to a protest from rivals MOL of Hungary.