Croatia: Crodux could be sold to Gazprom Neft

24. May 2016. / SEE Energy News

Three years ago, Gazprom Neft was Crodux’ main competitor on the acquisition of the network of OMV’s petrol stations in Croatia, which was eventually bought by Crodux for, according to unofficial sources, about 100 million euros. In addition to the purchase of petrol stations, Crodux acquired oil storage capacities at oil terminal in Omisalj.

According to unofficial sources, Ivan Cermak, the owner of Croatian company Crodux, is currently negotiating with Russian Gazprom Neft on the sale of the company.

Allegedly, these negotiations are mediated by former Croatian President Stipe Mesic, whi is known to have good business connections in Russia. It is expected that the deal would be made in the next few months. Crodux’ public relations office did not comment on this information. Few years ago, when similar speculations on the sale of the company emerged, it was almost immediately denied by the company’s PR office.

Crodux derivati dva‖ currently has 65 petrol station in its retail network and has 800 employees. It is the only company operating in the domestic oil market, which is 100 % owned by Croatian capital.

Three years ago, Gazprom Neft was Crodux’ main competitor on the acquisition of the network of OMV’s petrol stations in Croatia, which was eventually bought by Crodux for, according to unofficial sources, about 100 million euros. In addition to the purchase of petrol stations, Crodux acquired oil storage capacities at oil terminal in Omisalj.

Previously, Ivan Cermak withdrew from oil business in 2007, when he sold his company Tifon to Hungarian MOL for 110 million euros. At the moment of sale, it had 36 well positioned petrol stations across Croatia, 4 petrol stations under construction and additional 20 projects with all necessary permits, transmits Serbia-energy.eu

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