Romania: Independent fuel distributor acquired by German DKV

, SEE Energy News

German group DKV is mobility services provider. Romanian Competition Council approved the transaction through which the DKV took over the biggest local independent fuel distribution firm Smart Diesel.

The statement from the regulator said that it found that this operation does not raise significant obstacles to effective competition on the Romanian market and that there are no serious doubts about its compatibility with a normal competitive environment.

German DKV reached an agreement last December to buy Smart Diesel. The two sides haven’t disclosed the transaction’s value. Smart Diesel is the largest independent fuel company in Romania. It offers fuel cards, bulk fuel, a solution for paying tolls, and VAT recovery services to over 11,000 customers. The group operates 36 gas stations in Romania, and its loyalty card is accepted in over 1,800 petrol stations abroad. Smart Diesel achieved a turnover of some 300 million euros in 2020, slightly lower than in 2019, and a net profit of over 100 million euros.