MOL acquires Eni’s Downstream business in Hungary
The investment is fully in line with MOL Group’s strategy to extend its presence and increase significantly the retail market share within the supply radius of its core refineries. The new service stations will further extend MOL Group’s captive market whilst improving its ability to reach end-users, securing an extended margin capture. With the integration of this network MOL realizes significant wholesale and retail synergies as well as cost optimization.
The deal includes the Eni’s retail station business and wholesale activities. With 108 company owned service stations, the acquisition is a unique opportunity for MOL Group as it includes key retail positions and strengthens our position in and around Budapest.
“This acquisition is yet another important step for our downstream business as it will increase the markets for our refineries, significantly elevate our fuel volumes going through our network and ensure further overall margin capture.” – said Ferenc Horv?th, Downstream Executive VP, MOL Group.
Closing of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance.