Hungarian oil and gas company MOL on Wednesday said it signed agreements with PKN Orlen and Grupa Lotos on the acquisition of 417 petrol stations in Poland for 610 million US dollars.
Â
MOL also agreed to sell 185 of its own petrol stations to PKN Orlen for a total consideration of USD 259 million. The divested service stations include 144 in Hungary and 41 in Slovakia.
Â
Both of the transactions are expected to be concluded within twelve months,
Â
MOL said.
- Read also: Breaking news! Croatia top court affirms prison sentence for MOL chief Hernádi – UPDATE
MOL said the acquisition of the Polish petrol stations is “an excellent fit” for the growth strategy of its consumer services business. The purchase “would provide a basis for future growth” in Poland, in which MOL has had a limited presence, it added.
Â
MOL had been tipped to acquire the petrol stations which Lotos had to part with as a condition for approval by the European Commission of its acquisition by PKN Orlen.
Read alsoCheck out how Budapest’s tallest building is developing! – PHOTO GALLERY
Source: MTI
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
please make a donation here
Hot news
Top Hungary news: snow covered Hungary, regime change in Budapest parking, forint free fall – 22 November, 2024
THE ranking: GyÅ‘r’s Széchenyi István University among the top science universities
Hungarian minister proud that both German and Chinese battery plants are built in Hungary
Here are the top Hungarian cities for expats seeking a new home
Drugs situation in Budapest serious, leading politician says
“Hungarian Iron Dome” deployed near the Ukrainian border, expert says Putin will attack Hungary
