MOL's Slovnaft to sell to Lotos Paliwa
Sunday, September 25, 2005, 00:00
Slovnaft Polska S.A., a Polish subsidiary of Hungarian gas and oil company MOL Rt, has signed an agreement to sell all of its gas stations to Polish oil company Lotos Paliwa, a subsidiary of Lotos Group, for an undisclosed sum, signaling an end to MOL's presence at the local gasoline retail market, the Hungarian company announced. Slovnaft Polska's network of gas stations represent a 0.5% market share. The deal is expected to be finalized during Q1 of 2006. However, MOL would not give up its 4.0% share of the local gasoline wholesale market. (NG 13) P.Ő.