MOL has signed an agreement with Eni International B.V. for the procurement of the entire share capital of Eni Hungaria, a company managing 183 Agip branded service stations in Hungary. By increasing the retail presence within the supply radius of its refineries, the deal significantly contributes to MOL Group’s strategy of further downstream integration. The new service stations will also extend MOL Group’s captive market whilst improving its ability to reach end-users. With the integration of this network MOL realizes significant wholesale and retail synergies as well as cost optimization. The deal includes Eni’s retail station business and wholesale activities. The acquisition is a unique opportunity for MOL Group as it includes key retail positions and strengthens their 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. I’m glad that with today’s transaction we once again delivered on our promises.” – said Ferenc Horváth, Downstream Executive VP, MOL Group.
