EU clears Eni to buy Europe retail stations from Exxon Mobil

Competition

The European Commission Tuesday cleared Eni SpA to buy 102 gasoline stations in the Czech Republic, Slovakia and Hungary from a unit of ExxonMobil.

The commission said the deal wouldn't create antitrust problems. In a deal agreed to on April 27, Eni Spa said it would buy ExxonMobil's retail station network in the three countries and its aviation business at the Prague and Bratislava airports for an undisclosed sum. The deal also includes ExxonMobil's lubricants business in the Czech Republic, Slovakia and Hungary. (Esso Hungaria, Esso Ceska and Esso Slovensko sell motor fuel in Hungary, the Czech Republic and Slovakia.) ExxonMobil will continue to operate its chemicals business in the region.

Eni is Italy's biggest oil and natural gas company by volume. It has been expanding its operations in central Europe as part of a strategy to tap into the region's fast-growing economies. (marketwatch.com)

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