- European Commission issued the final approval for the acquisition of OMV Slovenija. INA and MOL are on course to become a strong number two in Slovenia.
- The closing is expected to follow by end Q2.
- INA and MOL will continue to strengthen market competition with its unique business model in Slovenia to the benefit of all customers.
- According to the contract with MOL, INA, as a member of the MOL Group, will increase its share in OMV Slovenia from the current 7.75 percent to 33 percent.
Zagreb, 20 May 2023 – MOL Group, of which INA is a member, received the approval of the European Commission, which fulfilled all conditions for taking over a 92.25% stake in OMV Slovenia. The approval comes after an in-depth analysis of the potential takeover of the retail network OMW Slovenia by MOL Group. As a precondition for the European Commission’s positive decision on the takeover of OMV, in March 2023 MOL Group concluded an agreement on the sale of 39 gas stations to Shell from its future combined retail network in Slovenia. At the level of MOL Group, the belief was expressed that market competition in Slovenia will be further strengthened by this transaction and the completion of remedial measures for the protection of market competition, because the appearance of a strong second player will put pressure on the dominant service provider and will result in better prices and quality for all customers in Slovenia.
The conclusion of the transaction with OMV Slovenia is expected by 30 June 2023. At the same time, an agreement between MOL and INA, as a member of the MOL Group, will be implemented, according to which INA will increase its share in OMV Slovenia from the current 7.75 percent to 33 percent. The takeover of OMV’s operations in Slovenia will enable INA and MOL to utilize the entire production, logistics and refining capacities in the wider Central European region to a greater extent than today, and MOL in partnership with INA will become the second largest player on the Slovenian market.
About INA Group
INA Group is the leading oil company in Croatia and a major regional player in oil and gas exploration and production, oil processing, and distribution of oil and oil derivatives. INA Group consists of several affiliates, entirely or partially owned by INA, d. d. The Group is based in Zagreb, Croatia. Apart from Croatia, INA also conducts its oil and gas exploration and production activities in Angola and Egypt. Oil is processed at INA’s refinery in Rijeka, while sustainable alternatives are being developed at an industrial location in Sisak. INA’s regional retail network consists of more than 500 retail locations in Croatia and neighbouring countries. INA Group is a member of MOL Group.
About MOL Group
MOL Group is an international, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years. MOL Group operates three refineries and two petrochemicals plants under integrated supply chain-management in Hungary, Slovakia and Croatia, and owns a network of almost 2400 service stations across 10 countries in Central & South Eastern Europe. MOL’s exploration and production activities are supported by more than 85 years’ experience in the field of hydrocarbons and 30 years in the injection of CO2. At the moment, there are production activities in 9 countries and exploration assets in 14 countries.
MOL is committed to transform its traditional fossil-fuel-based operations into a low-carbon, sustainable business model and aspires to become net carbon neutral by 2050 while shaping the low-carbon circular economy in Central-and Eastern Europe.
PR
Avenija Većeslava Holjevca 10, Zagreb
Phone: 01 6450 552|Fax: 01 6452 406| @: pr@ina.hr