MOL Group expanded its Slovenian network and is a strong number two in the country

  • Today MOL Group concluded the purchase of OMV Slovenija and expanded its network temporarily to more than 170 service stations across Slovenia. In partnership with its Croatian Group member INA, MOL Group has become a strong number two in the country.
  • The company will be renamed into MOL & INA d.o.o and retain its headquarters in Koper.
  • MOL & INA d.o.o is determined to ensure business continuity, and all employment contracts remain in force.

Koper, 30 June 2023 – Today MOL Group, leading international integrated oil, gas, petrochemicals and consumer retail company operating in Central and Eastern Europe, in partnership with its Croatian Group member INA, concluded the transaction of acquiring 92.25% share of OMV Slovenija. The EUR 301 mn enterprise value (for 100%) results in an equity purchase price of EUR 311 mn on 92.25% basis, of which EUR 85 mn is paid by INA (and is to be adjusted for the actual net working capital and net financial debt as at closing).

MOL Group’s network of service stations now includes more than 170 locations across Slovenia. After the acquisition, MOL is determined to ensure business continuity, relying on the professionalism and the expertise of the teams at its extended Slovenian network. In the upcoming days the company OMV Slovenija d. o. o. will be renamed to MOL & INA d. o. o., with its headquarters remaining in Koper. The new company will strengthen MOL Group’s position on the Slovenian market and enable retail and wholesale customers to access top quality products and services more conveniently in the future. With the conclusion of the transaction, an agreement between MOL and INA will be implemented, according to which INA will increase its share in OMV Slovenija (soon to become MOL & INA d.o.o.) from the current 7.75 percent to 33 percent, and 27 of the newly acquired service stations will operate under the INA brand.

As a fully vertically integrated regional supplier, MOL Group operates with a different business model than other competitors on the Slovenian market, enabling price competitiveness and at the same time developing further quality products, including high-end MOL EVO fuels. Our own refineries are the main drivers of MOL’s price competitiveness on regional markets, as we supply the regional markets mostly from them. MOL Group operates refineries in the vicinity of Slovenia:  Hungary, Slovakia and Croatia, where the Rijeka Refinery is being upgraded and modernized. In addition to stable and profitable operations, MOL Group aims to contribute to the local market competition and security of supply by all possible means.

The acquisition is in line with MOL Group’s long-term “Shape Tomorrow 2030+” sustainability strategy, within which INA plays an important role, and where one of the main aims is to provide convenient products and services for the people on the move. “With constant development and digitalization we are shaping future consumer and mobility trends. Over the past 27 years we have provided to the Slovenian customers top-quality MOL EVO fuel and upgraded our offer in entire Slovenian network with Fresh Corner offer. Slovenia is a success story and an opportunity for further growth of our entire Group. We are proud of being a strong number two in the market, but also aware of our responsibility towards the customers and local environment,” said Péter Ratatics, MOL Group Consumer Services Executive Vice President.

For obtaining a positive decision by the European Commission to complete the OMV Slovenija transaction, MOL Group in March 2023 concluded an asset sales and purchase agreement with Shell regarding 39 service stations of its joint Slovenian network. The closing of the transaction with Shell is expected by the second half of 2023.

About MOL Slovenija

MOL Slovenija is a member of MOL Group and has been present on the Slovenian market since 1996. MOL Slovenija offers high-quality MOL EVO fuels, which are available on more than 50 service stations among the now 170 locations in the Slovenian network. We are focused on the needs of our customers. With our top-quality Fresh Corner gastronomic offer, we ensure a pleasant stop on the way, enriched by top-quality coffee and delicious cold and hot snacks. We are successfully implementing MOL Group’s Shape Tomorrow 2030+ strategy, we are a reliable partner to our customers, suppliers and local communities, and a responsible employer. Our focus on growth, customer and employee satisfaction enables us to invest in further development and at the same time provides the capacity to effectively adapt to future changes in the economic environment.

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 24,000 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 more than 2,500 service stations across 10 countries in Central and Southeast 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. Currently, there are production activities in 7 countries and exploration assets in 7 countries. MOL Group 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.

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. INA’s regional retail network consists of more than 500 retail locations in Croatia and neighbouring countries. Oil is processed at INA’s refinery in Rijeka, where the largest industrial investment in the history of Croatia is underway, making it one of the most modern refineries in the CEE region.  Sustainable alternatives are being developed at an industrial location in Sisak. INA Group is a member of MOL Group.

Media contact:      

INA, d.d., Avenija Većeslava Holjevca 10, Zagreb

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