Integrated oil and gas company, MOL Group has successfully concluded the acquisition of OMV Slovenija, solidifying its position as the second-largest player in Slovenia.
The initial purchase price received at closing amounts to 311 million euros (for a 92.25 per cent OMV stake) to be adjusted for the actual net working capital and net financial debt at closing. The sale and transfer encompassed OMV’s retail and wholesale business in Slovenia. With this transaction, the MOL Group, in collaboration with INA, has expanded its network in Slovenia with over 170 additional fuel stations.
Following an in-depth investigation of the Slovenian retail fuel market, the European Commission cleared the transaction upon the condition that certain filling stations would be divested. The transaction was closed on 30 June 2023.
In order to obtain the favourable European Commission decision necessary for the completion of the transaction, MOL Group entered into an asset sale and purchase agreement with Shell in March 2023 regarding 39 fuel stations of the joint Slovenian network. The completion of the transaction with Shell is expected in the second half of 2023.
MOL Group said that in line with its commitment to ensuring business continuity, it will retain all existing employment contracts, ensuring that the expertise and knowledge of the workforce operating the extended Slovenian network are maintained.
As part of the acquisition, the company’s name will change to MOL & INA d.o.o., while the headquarters will continue to be located in Koper. The acquisition further cements MOL Group’s presence in the Slovenian market.
“The MOL Group, in collaboration with INA, has emerged as a strong second player in the Slovenian market and we are proud of this achievement. At the same time, we are fully aware of our responsibility to customers and the local environment,” said Péter Ratatics, Executive Vice President of Consumer Services at MOL Group.
The MOL Group’s plans for the Slovenian market were presented by MOL Group representatives at a press conference on 3 July 2023, shedding further light on the strategic vision and goals of the MOL & INA venture, highlighting the commitment to customer satisfaction, innovation and sustainable growth in Slovenia.
With a robust regional presence, the MOL Group operates in Slovenia with a unique business model that provides a competitive edge in terms of pricing and the ability to develop high-quality products. The group’s own refineries, located in Hungary, Slovakia, and Croatia, play a significant role in ensuring price competitiveness and supply security to regional markets. The ongoing modernisation of the Rijeka refinery in Croatia demonstrates the MOL Group’s dedication to maintaining stable and profitable operations while contributing to the local market, informed the company.
The acquisition of OMV Slovenija aligns with the MOL Group’s long-term sustainability strategy, Shape Tomorrow 2030+, which aims to deliver accessible and environmentally friendly products and services, focusing on consumer needs and future mobility trends.
