RSS
MOL Romania Acquires Eni’s network in Romania
*MOL Group Acquires 208 Filling Stations in 3 CEE Countries: retail network grows to almost 2,000 service stations across 11 countries
*The Group’s market presence expands significantly in the Czech Republic, Slovakia and Romania
*Retail network expansion further strengthens MOL Group’s leading role in CEE
Wednesday, MOL Group announced in a press release sent to ACTMedia the sale-purchase agreement with Eni for its downstream businesses in the Czech Republic, Slovakia and Romania, including retail network (currently under Agip brand). This step contributes greatly to the Group’s Downstream strategy of increasing retail market presence, country coverage and customer base. The take-over of Eni’s wholesale business in the given countries is also part of the agreement.
In line with its growth strategy, MOL Group announces the acquisition of Eni’s retail network in the Czech Republic, Slovakia and Romania. By the integration of these networks, MOL Group targets further pronounced wholesale and retail synergies, quality enhancements in products and services, as well as operational excellence.
“This acquisition is a milestone in our retail growth strategy in CEE. The average throughput of the acquired service stations is in the top three among branded players in the Czech fuel retail market. Moreover, MOL Group becomes the second largest retail player in terms of network share on the Czech market. The group significantly increases its retail coverage in Romania and makes a great step to further enhance Slovnaft’s brand perception in Slovakia.” – said Lars Höglund, Senior Vice President of MOL Group Retail.
The acquisition is a major step for MOL Group in Romania in achieving its strategic plan to increase its market share. As a result of integrating the 42 new service stations, MOL Romania will reach a network of 189 units, placed in high traffic and premium locations, under MOL brand. The company will continue to offer the Romanian drivers high value proposition services, such as the MultiBonus loyalty program. Moreover, MOL Romania’s fuel card partners will benefit from an enhanced coverage, especially in Southern Romania.
“MOL Romania has always been a customer centric organization and our team is totally committed to use this opportunity, reaching our clients and partners with top quality products and services, under MOL brand, within an enlarged network. We shall further pursue our core drive towards growth, based on high performance standards ensured by our capable team” – said Kinga Daradics, CEO and Country Chairman MOL Romania.
The acquisition package also includes the wholesale activities as well as taking over the management of the headquarters.
MOL Group’s position in the Czech Republic will be greatly strengthened by this acquisition: 125 new service stations together with Slovnaft’s 24 and PAP Oil’s 125 stations, will grant MOL Group a retail market share exceeding 10%. Furthermore the average throughput of the total acquired network is almost twice as high as the national average.
In Slovakia, the total network size will reach 253 stations. Additionally, the newly acquired 41 service stations further improve Slovnaft´s average throughput and customer value proposition.
MOL has also agreed to purchase Eni’s stake in Ceska Rafinerska (CRC); however, Unipetrol the majority owner of CRC possesses pre-emption right connected to the sale of the CRC shares.
Completion of the deal is subject to the fulfilment of certain pre-conditions, among others obtaining of the necessary antitrust clearances.
About MOL Group
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It has operations in over 40 countries and employs almost 29,000 people worldwide. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 13 countries. The Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia. MOL Group also owns a network of over 1,700 service stations across 11 countries in Central & South Eastern Europe, out of which 147 in Romania.