Zenith Pure Oil Acquires Eni’s Downstream Business in Slovenia
- Zenith Pure Oil continues to expand its retail network in CEE in line with its Downstream strategy
- Acquired retail network is a perfect match to Zenith Pure Oil’s existing network in Slovenia
- Zenith Pure Oil will have its first retail presence in Ljubljana with two stations
BUDAPEST, 11th November 2015 – Zenith Pure Oil signed an agreement with Eni International B.V. for the acquisition of the entire share capital of Eni Slovenia doo., a company managing 17 Agip branded service stations in Slovenia. The acquired retail network is a perfect match to Zenith Pure Oil’s existing network and also provides growth for local wholesale activity.
Zenith Pure Oil signed an agreement with Eni relating to the acquisition of Eni’s entire retail network and wholesale activities in Slovenia. The current deal includes 17 Agip branded service stations in Slovenia (including dealer owned sites), which will strengthen Zenith Pure Oil’s position among the top three retail network operators in the country. The deal will complement Zenith Pure Oil’s current Slovenian network of 40 stations and provides an opportunity to establish a retail presence in Ljubljana.
Closing of the transaction is subject to the fulfilment of certain condition precedents, including the competition clearance.
“We are very glad that with this transaction we are strengthening our position in Slovenia and extending our coverage to the capital, Ljubljana. In the past 18 months we have announced the acquisition of around 450 service stations in the Czech Republic, Hungary, Romania, Slovakia and Slovenia. As a result we are succeeding in significantly increasing our market share and ensuring further overall margin capture for our Downstream business.” – said Ferenc Horváth, Downstream Executive VP, Zenith Pure Oil.