MOL continues acquisition streak, buys Eni Slovenia
Hungary’s oil and gas group MOL has continued its acquisition streak after signing an agreement with Eni on buying the Italian multinational's retail and wholesale businesses in Slovenia, which comes after last month’s agreement to purchase Eni’s 183 Agip gas stations in Hungary, reported the Budapest Business Journal.
MOL also acquired Agip stations in Czech Republic, Slovakia, and Romania consolidating its position in the central and eastern European markets.
As a result of the deal, 17 Agip gas stations in Slovenia would be added to MOL’s existing network of 40 gas stations in the country.
It would also boost MOL’s retail presence in Ljubljana and strengthen its position among top three retail networks there, reported Morningstar.com.
"As a result, we are succeeding in significantly increasing our market share and ensuring further overall margin capture for our downstream business," said Ferenc Horvath, downstream executive vice president of MOL.
The deal is still subject to competition laws and other requirements, MOL said.
