Equity
Lukoil to exit Czech Rep., Hungary, Slovakia, MOL buys Czech pumps
Lukoil announced it has signed contracts with MOL Plc. and Norm Benzinkút Kft on the sale of assets in the Czech Republic, Slovakia and Hungary.
Slovnaf, a subsidiary of MOL, will buy from Lukoil a network of 44 gas-filling stations located in the Czech Republic.
Norm Benzinkút Kft will purchase Lukoil’s filling-station networks in Hungary (75 stations) and Slovakia (19 stations).
Both deals are expected to be closed before the end of 2014.
“The decision to sell the assets was taken as part of the effort to optimize Lukoil’s business in petroleum-product marketing," the Russian company added in a statement.
MOL released the following statement:
The acquisition of Lukoil’s network of 44 high-throughput service stations in the Czech Republic is in line with MOL Group’s retail growth strategy in CEE and it further increases the Group’s market presence within the supply radius of its core refineries.
Together with the recently announced acquisition of the ENI retail network this acquisition will allow MOL Group to reach a countrywide presence of 318 service stations and to firmly establish itself among the leading motor fuel retailers in the Czech Republic. MOL Group aims to realize wholesale and retail synergies following integration of Lukoil’s network into a combined organisation.
Completion of the acquisition is subject to fulfilment of certain conditions precedent, among others to obtaining merger clearance.
Slovnaf, a subsidiary of MOL, will buy from Lukoil a network of 44 gas-filling stations located in the Czech Republic.
Norm Benzinkút Kft will purchase Lukoil’s filling-station networks in Hungary (75 stations) and Slovakia (19 stations).
Both deals are expected to be closed before the end of 2014.
“The decision to sell the assets was taken as part of the effort to optimize Lukoil’s business in petroleum-product marketing," the Russian company added in a statement.
MOL released the following statement:
The acquisition of Lukoil’s network of 44 high-throughput service stations in the Czech Republic is in line with MOL Group’s retail growth strategy in CEE and it further increases the Group’s market presence within the supply radius of its core refineries.
Together with the recently announced acquisition of the ENI retail network this acquisition will allow MOL Group to reach a countrywide presence of 318 service stations and to firmly establish itself among the leading motor fuel retailers in the Czech Republic. MOL Group aims to realize wholesale and retail synergies following integration of Lukoil’s network into a combined organisation.
Completion of the acquisition is subject to fulfilment of certain conditions precedent, among others to obtaining merger clearance.
