Croatia: Greek company Coral acquires fuel distributor Apios
All the Apios stations acquired in the operation will be rebranded as Shell.
The Greek company Coral will acquire a 75% stake in the company Apios, a Croatian fuel distributor with 26 petrol stations, reports SeeNews.
Apios was founded in 2009, it has a stake of about 3% in the Croatian market and is heavily involved in the wholesale of petroleum products, a press release said. The acquired network will be rebranded as Shell.
In Greece, Coral owns about 700 petrol stations, distributing petrol, fuel oil, diesel and lubricants. Coral is owned by Greek petroleum refining company Motor Oil Hellas S.A.
By acquiring the Apios company in Croatia and supported by the Shell brand, Coral and Motor Oil Group want to continue to expand their business network.
