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Reuters: MOL eyes further retail buys in Central Europe

Deals

Hungarian oil and gas company MOL plans further acquisitions to boost its retail market share in central Europe, where demand for fuel could rise further thanks to strong economic growth, MOL’s executive vice president Ferenc Horváth told Reuters. 

Earlier on Friday MOL reported a fall in first-quarter net profit but its core EBITDA jumped 47% in annual terms, helped by robust results from its downstream and petrochemicals business.

Horváth, who is responsible for downstream operations, said MOL was looking at “nearly all” countries in the region to increase its network of more than 1,750 filling stations. “I hope that before the end of this year we will be able to announce a further acquisition in retail,” Horváth said, but he declined to name any countries. Horváth said MOL would also be interested in buying refinery assets in the regions where it operates. 

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