MOL Group acquires Eni’s downstream business

MOL signed an agreement relating to the acquisition of Eni’s entire retail network and wholesale activities in Slovenia. The current deal includes 17 Agip branded service stations in Slovenia (including dealer owned sites), strengthening MOL’s position among the top three retail network operators in the country. The deal will complement MOL’s current Slovenian network and provide an opportunity to establish a retail presence in Ljubljana.

Finalisation of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance.“We are very glad that with this transaction we are strengthening our position in Slovenia and extending our coverage to the capital, Ljubljana. In the past 18 months we have announced the acquisition of around 450 service stations in the Czech Republic, Hungary, Romania, Slovakia and Slovenia. As a result we are succeeding in significantly increasing our market share and ensuring further overall margin capture for our Downstream business,” said Ferenc Horváth, Downstream Executive VP, MOL Group.

Adapted from press release by Francesca Brindle

Read the article online at: https://www.hydrocarbonengineering.com/refining/11112015/mol-downstream-eni-business-1721/