After having fulfilled the suspensive conditions, Slovenia’s oil distributing company Petrol Ljubljana has closed the acquisition of a 100 per cent business share in the Croatian company Crodux Derivati at the price of 191.7 million euros. At the same time, Petrol Ljubljana will assume a net financial debt to banks in the amount of 19.2 million euros.
The transaction closing will be followed by the integration of Crodux Derivati into the Petrol Group and the subsequent merger of the acquired company with Petrol Zagreb, which is expected to be finalised by the end of 2022. The Petrol Group is this way consolidating its position as the second-largest petroleum product provider in Croatia. The acquisition of Crodux Derivati is Petrol Ljubljana’s largest acquisition in the last decade and with 93 new points-of-sale it is the greatest one-off increase in the number of points-of-sale in the Petrol Group’s history.
“Today is an extremely important day for Petrol,” said Nada Drobne Popović, President of the Management Board of Petrol Ljubljana. “The number of Petrol Group’s dedicated, passionate and knowledgeable employees has increased to more than 6,000. We would like to extend a warm welcome to all new colleagues from Crodux Derivati. Welcome to the Petrol Group. We firmly believe that employees are the heart of every company and together, we will not only be larger but also stronger and better. […] As the leading partner in the energy transition, we will continue to build a forward-looking ecosystem of sustainable and, most of all, modern and digitalised solutions. We plan to transfer best practices, thereby becoming the leading provider of fuels and sustainable energy solutions in Croatia by 2025. With today’s acquisition, Croatia has become our second home.”
Crodux Derivati will remain an independent company until its final merger with Petrol Zagreb. The slogan Everything for you and your vehicle is assurance that Crodux Derivati and Petrol Zagreb points-of-sale will offer high-quality fuels and a wide range of merchandise, services and food and beverages. Indeed, Petrol Group places a strong emphasis on developing modern fuels. To this end, it launched in 2021 a new generation of Q Max fuels that ensure lower consumption, higher energy efficiency and fewer emissions while also expanding and developing a network of EV charging stations.