| MOL acquires Eni’s Downstream business in Hungary | |
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MOL Plc. hereby informs capital market participants that MOL signed an agreement with Eni International B.V. for the acquisition of the entire share capital of Eni Hungaria, a company managing 183 Agip branded service stations in Hungary (including dealer owned sites) as well as wholesale activities in the country. Eni lubricants wholesale business is excluded from the deal.
The investment is fully in line with MOL Group's strategy to extend its presence and increase significantly the retail market share within the supply radius of its core refineries. The new service stations will further extend MOL Group's captive market whilst improving its ability to reach end-users, securing an extended margin capture. With the integration of this network MOL realizes significant wholesale and retail synergies as well as cost optimization.
The deal includes the Eni's retail station business and wholesale activities. With 108 company owned service stations, the acquisition is a unique opportunity for MOL Group as it includes key retail positions and strengthens our position in and around Budapest.
'This acquisition is yet another important step for our downstream business as it will increase the markets for our refineries, significantly elevate our fuel volumes going through our network and ensure further overall margin capture.' - said Ferenc Horváth, Downstream Executive VP, MOL Group.
Closing of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance.
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ENI is based in Italy. ENI is listed in Italy. Its market capitalisation is €UR 55.4 billions as of today (US$ 59.4 billions, € 55.5 billions). Its stock quote reached its lowest recent point on April 23, 2021 at €UR 10.01, and its highest recent level on April 25, 2024 at €UR 15.25. ENI has 3 634 189 824 shares outstanding. |