Slovenian energy company Petrol announced that it has successfully completed the integration of Croatian fuel retailer and wholesaler Crodux Derivati Dva, whole two months ahead of schedule.
In October 2021, Petrol said that it has completed the acquisition of Croatian fuel retailer Crodux Derivati Dva for 191.7 million euros. Through this acquisition, Petrol group strengthens its position as Croatia’s second largest oil derivatives supplier. With a total of 204 petrol stations, Petrol’s market share in Croatia raises from 13 to 23 %.
Petrol also assumed Crodux’ 19.2 million euros debt to commercial banks. The group will carry out the acquisition and refinance the debt by using an international syndicated loan of 200 million euros, arranged by Slovenian NLB bank and Croatian Privredna Banka Zagreb.
Petrol’s CEO Nada Drobne Popovic said that this is one of the largest acquisitions by the company in the last ten years. United with Crodux, the company is now stronger, bigger and more efficient in pursuit of its goal of providing the best customer experience. By combining the procurement of petroleum products and merchandise and with two strong brands, Petrol has become a stronger player in Croatia.