Hungarian multinational oil and gas company MOL Group will acquire a total of 120 service stations in Slovenia from Austria’s OMV. The purchase price is 301 million euros according to MOL Group’s press statement.
MOL Group agreed with OMV to acquire OMV’s 92.25 per cent stake in OMV Slovenija – in which INA already holds a 7.75 per cent minority stake – from OMV Downstream as a direct shareholder.
As Croatian INA is also part of the MOL Group, the Hungarian company now owns 100 per cent of OMV Slovenija assets including the wholesale business of the acquired company. The transaction is subject to competition authority approval.
The transaction involves 120 Slovenian service stations. OMV Slovenija operates the country’s second-largest retail network under three different brands: OMV; EuroTruck; and Avanti/DISCOUNT.
MOL Group currently has 53 service stations in Slovenia, 48 of which operate under the MOL Slovenia brand and 5 under the INA brand, making it the third-largest player in the country. The acquisition will increase the Group’s retail network to 173.
“This step is in line with our strategic goals to further expand our service station network in existing and potential new markets in Central and Eastern Europe,” said Zsolt Hernádi, Chairman and CEO of MOL Group adding that the goal of MOL Group is to increase the number of service stations to 2200 by 2025, or even more if there are further good opportunities.
“Thanks to this step, together with INA, we will become one of the most important market players in Slovenia,” concluded the CEO of MOL Group.
MOL entered the Slovenian market in 1996 to establish a retail network and wholesale operation. The acquisition of OMV Slovenija fits into the company’s “SHAPE TOMORROW” 2030+ updated long-term strategy, which places particular emphasis on improving consumer services. The acquisition of OMV Slovenija is the third deal announced by MOL since the update of its long-term strategy.
MOL Group recently announced the acquisition of 100 per cent of Normbenz Slovakia by Slovnaft, a member of international MOL Group – that includes 16 service stations in Slovakia operated under the Lukoil brand. MOL has also concluded a deal with Marché International AG to buy the company that operates 9 restaurants in Hungary under the Marché brand.
MOL Group owns a network of almost 2,000 service stations across 10 countries in Central and South-Eastern Europe.