Czech Republic: MOL Looking to Expand Network
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Tuesday, 18 September 2012 |
Hungarian oil firm Mol has said that it intends to purchase more fuel service stations in the Czech Republic after expanding its network in the country recently by taking over Pap Oil and Bohemia Realty, both of which operate stations under the Pap Oil brand. Anton Molonar, a spokesperson for Mol, said that the company plans to double the amount of stations under its control over the next few years.
Mol confirmed last week that Czech regulators had given it the green light to proceed with its Pap Oil takeover, which it had agreed terms for the previous month. The Czech Republic’s dense network of fuel service stations would not suffer any adverse effects as a result of the takeover, said UOHS, the Czech competition regulator, when it cleared Mol. Pap Oil controlled only 4% of the country’s retail market share before the takeover. “The new entity created via the merger will be competing against Benzia, OMV, Cepro or Shell with a higher market share,” it said.
“The investment is in line with Mol Group’s strategy to improve our presence and increase market share in the supply radius of our refineries and increase further the synergies within the downstream segment,” Mol said when it announced its takeover of Pap Oil.
PetrolWorld 18092012
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