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.

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