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  • MOL Group Completes Acquisition of Eni’s Downstream Oil Business in Hungary
    édité le 02/08/2016 - Plus de news de "MOL Group" - Voir la fiche entreprise de "MOL Group"

MOL Group Completes Acquisition of Eni’s Downstream Oil Business in Hungary
MOL Group completed the acquisition of the entire share capital of ENI Hungaria, a company managing 173 Agip branded service stations in Hungary (including dealer owned sites) as well as wholesale activities in the country (excluding the Eni branded lubricant wholesale business). MOL Group now owns a retail network of over 2,000 service stations across 10 countries in Central Eastern Europe.

As a result of the acquisition MOL’s retail network grows to over 500 service stations in Hungary. The newly acquired stations extend MOL Group’s captive market whilst further improve its ability to reach customers with good retail positions in Budapest and highways. With the integration of this network MOL realizes significant wholesale and retail synergies as well as cost optimization.

Ferenc Horváth, Downstream Executive VP, MOL Group said: “The completion of this acquisition further increases the markets for our refineries and ensures additional overall margin capture for our downstream business. The acquisition and integration of around 450 filling station in CEE over the past two years helps us to achieve our strategic goal by 2017, a significant, over 25% fuel volume growth. Additionally, thanks to our regional expansion we are now serving over 1 million customers per day and we intend to increasingly exploit our sales points to serve their changing needs in non-fuel products as well.”

With the acquisition of ENI Hungaria, MOL Group will rebrand the Agip stations to MOL according to the latest standards, including the introduction of the Fresh Corner concept with a special focus on coffee, fresh food, everyday grocery.

Lars Höglund, Senior VP of MOL Group Retail commented: "We see a great potential in leveraging the newly acquired Agip selling points in line with our new Retail concept: we envisage to become customers’ obvious choice in fuel and in convenience retailing. To reach this goal our mission is to provide relevant high quality products and services at our service stations to improve the customer experience and make many more people on the move smile and feel welcomed. Driven by this purpose we continuously seek to improve our service level and our offer, developed according to the needs of the modern customer on the move."

Over the past two years MOL Group has acquired around 450 service station in Central Eastern Europe and now its retail network reaches over 2,000 units. In 2015, MOL Group completed the acquisition of ENI’s Czech, Slovak and Romanian downstream oil business (with the exclusion of Eni branded lubricant wholesale business), whilst also acquiring LUKOIL’s business activities in the Czech Republic. Most recently, in June 2016, MOL Group also completed the acquisition of ENI’s Slovenian downstream oil business. Through these acquisitions MOL further strengthened its market leader position in Hungary and Slovakia, has become the second largest retail network in the Czech Republic, the third largest in Romania and reinforced its position as the third largest provider on the Slovenian market.

About MOL Group

MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 40 countries with a dynamic international workforce of 27,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 14 countries. MOL Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia, and owns a network of more nearly 2,000 service stations across 11 countries in Central & South Eastern Europe.

About ENI

Eni is an integrated company that operates across the entire energy chain, employing some 78,000 people in 90 countries around the world. Scientific research and technological innovation are at the heart of its strategies for sustainable development.
Eni’s excellent portfolio of conventional oil assets with competitive costs and the strong resource base with options for anticipated monetization ensure a robust value generation at Eni’s upstream activity. The vertical integration provided by the large presence in the gas and lng markets, and the know-how in refining and chemical sectors enable the company to capture synergies and catch joint opportunities and projects in the marketplace.

Origine : Communiqué MOL Group

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