Croatia: Fuel retailer Crodux Derivati is acquired by Slovenian Petrol, SEE Energy News
Crodux Derivati, specialized in trade and storage of petroleum products, recorded a net profit of almost 19 million euros in 2019.
Slovenian energy company Petrol announced that it has acquired Croatian fuel retailer Crodux Derivati.
The statement from the company said that this acquisition will enable Petrol to operate additional 91 petrol stations in Croatia. However, the acquisition is still pending approval of relevant authorities. Financial details of the transaction have not been disclosed.
This is Petrol’s largest acquisition in the past 10 years. The company has increased it fuel network in Croatia to more than 200 petrol stations, boosting its market share from 13 to 23 %.
In 2019, Crodux Plin sold its business related to natural gas, liquefied petroleum gas (LPG) and electricity to Slovenian energy company Petrol and its daughter company Geoplin. More precisely, Geoplin took over the natural gas business, while LPG and electricity operations were taken over by Petrol.