MOL buys OMV's Slovenian retail/wholesale business for €301m

London (Quantum Commodity Intelligence) –  Hungarian integrated oil and gas company (IOG) MOL Group has agreed a deal to purchase Austrian IOG OMV Group's Slovenian operations, encompassing 120 fuel retail stations and a wholesale business at a price of €301 million ($366.5m), the companies announced Tuesday.

The transaction will increase MOL's presence in the country to a total of 173 retail stations and is expected to complete in 2022, subject to regulatory approval.

"This step is in line with our strategic goals to further expand our service station network in existing and potential new markets in Central and Eastern Europe. By 2025, MOL Group would like to reach 2200 service stations, potentially more, if more good opportunities rise," said MOL Group Chairman-CEO Zsolt Hernádi.

MOL also announced earlier this year the acquisition of 16 stations in Slovakia from local refiner Slovnaft and 6 restaurants in Hungary from food company Marché International, taking its total retail presence to 1,941 service stations.