ST1 Petrol Retail Expands Into Norway & Sweden
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Wednesday, 01 April 2009 |
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St1 Oy petrol retail of Finland has announced that it had agreed to buy
198 unmanned service stations in Sweden and Norway from StatoilHydro.
The deal envisages St1 purchasing 158 fuel distribution service
stations in Sweden, made up of a 118 Hydro/Uno-X brand service stations
and 40 Jet-brand stations. In Norway the 40 servcie stations are
Jet branded.
"The fuel distribution stations acquired in the Oslo region mark an
important bridgehead for St1 on the Norwegian fuel market," St1 said in
a statement. "The company is exploring potential for expansion in
Norway."
St1 said the stations were well suited for its "practice of
cost-efficient remote operations" and would up its fuels market share
to 8 percent in Sweden and just under 5 percent in Norway. "Also, the
net sales of the St1 Group will increase to about 1.5 billion euros
($1.98 billion)," it said.
PetrolWorld 010409
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