Zagreb, July 30– The Croatian Competition Agency passed the decision on approving Lukoil Croatia d.o.o. as buyer for Crobenz d.d.with the aim to execute the mandate from the Resolution on the conditional approval of the MOL/INA concentration by Agency. Furthermore, the Agency also granted the necessary clearance to the concentration between Lukoil and Crobenz.
On 21 July 2010, INA, d.d. entered into a sale and purchase agreement for the sale of 100% ownership of Crobenz with LUKOIL Croatia. The sale of Crobenz was conducted by the divestiture trustees as previously resolved by the Agency. The implementation of the sale and purchase agreement was only conditional upon the Agency’s approval, which was hereby granted, therefore the completion of the transaction is planned to happen shortly.
“After a long period of complicated discussions we are glad that this process is completed. The remedy set by the Agency is fulfilled and INA will continue to strengthen its business performance in the region together with its strategic partner MOL. We highly appreciate the positive efforts and good high-level co-operation of the Agency and the trustees mandated by it in the sales process of Crobenz.” – commented Mr. Zoltán Áldott, the president of INA Management Board.
Crobenz is active in the wholesale and retail trade of petroleum products. The Crobenz retail network consists of 14 service stations operated under the Crobenz brand.Documents