MOL Group acquires more than 400 Polish service stations
The move will make MOL the third biggest player in the Polish fuel retailing market.
Hungarian oil and gas company MOL has signed agreements with PKN Orlen and Grupa Lotos for the acquisition of 417 petrol stations in Poland for $610 million.
With the acquisition, MOL Group has entered its 10th country with its consumer services business. The number of service stations in the total portfolio will reach 2,390 operating under 5 different brands. This includes the recently acquired 120 OMV Slovenia service stations and the 95 new service stations in Slovakia and Hungary.
The move will make MOL the third biggest player in the Polish fuel retailing market.
"For MOL, this deal represents a major step on the strategic transformational journey we started in 2016 and accelerated last year with our updated strategy," commented Zsolt Hernádi, chairman and CEO of MOL Group.
MOL also agreed to sell 185 of its own petrol stations to PKN Orlen for a total consideration of $259 million. The divested service stations include 144 in Hungary and 41 in Slovakia.
“This is a watershed moment for the Polish fuel industry. We are about to finalise the acquisition of LOTOS Group, a deal intended to benefit the entire Polish economy, both companies involved, their respective customers, employees and shareholders,” said Daniel Obajtek resident of the PKN ORLEN Management Board.
The acquired network offers particularly strong market positions amongst highway stations with further organic growth opportunities and significant upside to expand non-fuel sales
