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Britain's Rotch Energy Ltd., a suitor for nearly two years for Poland's second-largest refinery, has been dropped from the partnership that had been named as the winning bidder, two sources said, amid doubts about whether the sale will even go through.
"Rotch is out of the game," said one source, who asked for anonymity. It was unclear Wednesday, March 19, whether PKN Orlen SA, Poland's leading oil company and Rotch's partner, is now the sole bidder in the auction for Rafineria Gdanska or whether the process is on hold. Reuters reported undisclosed sources saying that Poland's fuels market agency will recommend scrapping the sale.
In London, Rotch CEO Keyvan Rahimian said he has...