Slovenia: MOL Group’ retail acquirement agreement with OMV

, SEE Energy News

The agreed purchase price is 301 million euros (100 % share of OMV Slovenia); MOL Group reached an agreement with OMV to acquire OMV’s 92.25 % stake in OMV Slovenia, in which Croatian INA already holds a 7.75 % minority stake, from OMV Downstream GmbH as direct shareholder.

The transaction includes 120 petrol stations across Slovenia. OMV Slovenia operates in the country under 3 brands: OMV (108), EuroTruck (4) and Avanti/DISKONT (8). MOL Group and INA will become the 100 % owner of the wholesale business of the acquired company, as well. With 48 MOL and 5 INA-branded service stations in Slovenia, MOL Group is currently the third largest retail market-player. However, the transaction is still subject to merger clearance.

The acquisition fits into the Group’s SHAPE TOMORROW 2030+ updated long-term strategy, which places a special emphasis on the development of Consumer Services. MOL Group CEO Zsolt Hernadi said that this step is in line with group’s strategic goals to further expand retail fuel network in existing and potential new markets in central and eastern Europe. By 2025, MOL Group would like to reach 2200 petrol stations, potentially more, if more good opportunities arise. With constant development and digitization, shaping future consumer and mobility trends, MOL offers convenience as it aims to help people on the move, regardless of what powers the customer’s mode of transport. Furthermore, its integrated business model and accelerating growth enables it to provide financial resources for developing sustainable solutions and boosting circular economy in the region. Slovenia is not a new market for MOL, in the last 25 years it had the opportunity to introduce top-quality fuels and services, and MOL Slovenia became a success story. With this step, together with Croatian INA, MOL becomes a major player in Slovenia.

Acquisition of OMV Slovenia is the third announced deal since February 2021, when MOL Group updated its long-term strategy. On the way to deliver on it, MOL Group recently published the acquisition of 100 % of Normbenz Slovakia by member company Slovnaft that includes 16 petrol stations in Slovakia operated under the Lukoil brand. MOL has also concluded a deal with Marche International AG to buy the company that operates 9 restaurants in Hungary under the Marche brand.

MOL entered the Slovenian market in 1996 with the aim to establish a retail network and wholesale operation. By 2011 the company operated 31 petrol stations including acquired TUS network. In 2016, 11 Agip service stations joined the MOL portfolio. In parallel with greenfield investments and the integration of 5 INA stations, MOL Slovenia currently operates 53 petrol stations.

Currently MOL Group has 1941 petrol stations in 9 countries under several brands. 466 in Hungary, 434 in Croatia, 304 in the Czech Republic, 254 in Slovakia, 243 in Romania, 106 in Bosnia and Herzegovina, 70 in Serbia, 53 in Slovenia and 11 in Montenegro. MOL Group holds market leading position in Hungary, Croatia, Slovakia and in Bosnia and Herzegovina, second largest market player on the Czech market, and the third largest in Slovenia, Romania and Montenegro.