Croatian oil and gas company INA and its biggest shareholder, Hungary’s MOL, have reached an agreement to buy the Slovenian operations of Austria’s OMV, INA said on Tuesday.
INA and MOL will acquire OMV’s 92.25% stake in OMV Slovenija. The deal means INA will increase its stake in OMV Slovenija to 33% from the current 7.75%.
“The transaction includes 120 service stations across Slovenia and the wholesale business,” INA said in a statement, without disclosing financial details.
OMV Slovenija is the country’s second largest petrol retailer behind local firm Petrol.
“The captive market for our Rijeka refinery is granted and…(its) long-term future is ensured,” said President of INA’s Management Board Sandor Fasimon.
“We continue to realise our strategic goals of strengthening our presence in the region,” he added.
MOL holds just under 50% of INA, with the Croatian government controlling close to 45%.
Source: Reuters.com