The MOL Group will take over 120 petrol stations in Slovenia

by   CIJ News iDesk III
2021-06-08   09:45
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MOL Group has acquired a further 92.25% stake in OMV Slovenia to acquire 120 gas stations and wholesale operations in the country, the company said. This transaction requires the approval of the relevant authorities.

The MOL Group and OMV Downstream GmbH have reached an agreement on the acquisition by MOL of 92.25% of the shares in OMV Slovenia. The remaining shares are already in the hands of the Croatian company INA, which belongs to the MOL group. a total of EUR 301 million.

OMV Slovenia operates a fuel retail network under three brands: OMV (108); Euro Truck (4) and Avanti / DISKONT (8). The MOL Group and INA will also become the owners of the 100% wholesale business of the Slovenian company. Currently, the MOL Group is the third largest petrol station operator in Slovenia, where it operates 48 facilities under the MOL brand and 5 more under the INA brand.

"This is a step in line with our strategic goals to further expand our network of service stations in current and new markets in Central and Eastern Europe. We would like to reach 2,200 stations by 2025, or even more if other interesting opportunities arise. I am convinced that the consumer services segment has significant potential in the face of the energy transformation. [...] Slovenia is not a new market for us, in the last 25 years we have had the opportunity to introduce our fuels and services to this market and MOL Slovenia has proved A successful business venture. Thanks to this decision, together with INA, we are becoming an important player in this market," said the president and CEO of the MOL Group, Zsolt Hernádi.

The acquisition of OMV Slovenia is the third such transaction announced since the publication of MOL's updated long-term strategy in February this year. Since then, MOL has announced the acquisition of 100% of the shares in the Slovak company Normbenz through its company Slovnaft. Thus, the group acquired 16 stations operating in Slovakia under the Lukoil brand. Recently, MOL also acquired a company that runs a chain of nine restaurants in Hungary under the Marché brand.

Currently, the group operates a total of 1,941 petrol stations in nine countries under various brands - 466 in Hungary, 434 in Croatia, 304 in the Czech Republic, 254 in Slovakia, 243 in Romania, 106 in Bosnia and Herzegovina, 70 in Serbia, 53 in Slovenia and 11 in Montenegro. MOL is a leader in terms of the number of stations on the markets of Hungary, Croatia, Slovakia and Bosnia and Herzegovina. It is also second in the Czech Republic and third in Slovenia, Romania and Montenegro.

The Hungarian concern MOL is active in the production and processing of crude oil (it has production assets in 8 countries, it also owns 4 refineries and 2 petrochemical units). Since 2004, it has been listed on the Warsaw Stock Exchange. Its consolidated revenue amounted to $ 13.07 billion in 2020.

Source: MOL and ISBnews