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MOL acquires Eni’s downstream business in Hungary

Deals

Hungarian oil and gas company MOL said on Wednesday that it had signed an agreement with Eni International B.V. to acquire 100% of Eni Hungaria, a company managing 183 Agip branded service stations in Hungary as well as wholesale activities in the country.

The deal does not includ Eniʼs wholesale lubricants business.

The investment is in line with the MOL Group’s strategy to expand its presence and increase its retail market share within the supply radius of its core refineries. With 108 company-owned service stations, the acquisition is a unique opportunity for the MOL Group as it includes key retail positions and strengthens the companyʼs position in and around Budapest.

The transaction is still subject to competition clearance.

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