Unipetrol could buy larger stake in Czech refinery

Unipetrol currently holds a 51.2% stake in the Ceska Refinerska Refinery, the largest refinery in the Czech Republic with an 8.8 million ton capacity. In the company’s annual report, they have let it be known that if the refinery’s other shareholders decide to sell their stakes, Unipetrol is interested in picking them up. Reportedly, Italy’s Eni, which holds a 33% share in the Ceska refinery is in discussions with Russia’s Gazprom to sell its stakes. Royal Dutch Shell holds a 16.335% stake in the refinery. According to Unipetrol, the company is, “Prepared to increase its stake if one of the two remaining shareholders decides to exit the company, subject to economically justifiable terms.” Shareholders are expected to meet within the next few weeks. (March 31, 2011)