Hungary’s oil and gas group MOL has signed an agreement with the Italian oil company ENI for the acquisition of ENI’s entire retail network and wholesale activities in Slovenia, MOL said in a statement on Wednesday.
ENI manages 17 Agip branded service stations in Slovenia and their acquisition will strengthen MOL’s position among the top three retail network operators in the country. The deal will complement MOL’s current Slovenian network of 40 stations and provides an opportunity to establish a retail presence in Ljubljana.
“Closing of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance,” MOL said.
“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.
MOL holds a 49.01% stake in the Croatian oil and gas company INA.