MOL Group completes acquisition in Hungary
MOL Plc. hereby informs the capital market participants that today it completed the acquisition of ENI´s Hungarian Downstream oil business. MOL and ENI signed a share-purchase agreement last year concerning the takeover of Eni Hungaria, comprising the entire retail network and wholesale business of ENI in Hungary (excluding the Eni lubricant wholesale business).
As a result of the acquisition MOL’s retail network grows by 173 service stations and strengthens the company’s position as a market leader in the country. The newly acquired stations extend MOL’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.
Following 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.