EC clears MOL acquisition of Lotos gas stations in Poland

EU

The European Commission on Monday cleared Hungarian oil and gas company MOL's acquisition of Lotos refueling stations in Poland, according to a report by state news wire MTI.

MOL had signed an agreement in January to acquire 417 Lotos gas stations, for a consideration of USD 610 million, after the EC required Polish energy company PKN Orlen to divest assets as a condition for approval of its acquisition of Grupa Lotos.

At the same time, MOL agreed to sell 185 of its own gasl stations to PKN Orlen for a total consideration of USD 259 mln.

That transaction, which included ones operated by Normbenz Magyarország under the Lukoil brand as well as Slovnaft stations in Slovakia, was also cleared by the EC on Monday.

ADVERTISEMENT

Hungary to Expand Gripen Fleet With 4 Aircraft Analysis

Hungary to Expand Gripen Fleet With 4 Aircraft

Lawmakers to Vote Monday on New President Parliament

Lawmakers to Vote Monday on New President

High-tech Ratio in Hungarian Industry Rising Innovation

High-tech Ratio in Hungarian Industry Rising

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.