Hungary's MOL Group Says It Completes Purchase Of

Hungary’s MOL group says it completes purchase of 44 stations from Lukoil in the Czech Republic

The Hungary-based MOL Group has completed the purchase of 44 Lukoil service stations in the Czech Republic, according to a statement in MOL Group’s web page.

“This step will signiﬁcantly contribute to improving MOL Group’s market position and to its intention of becoming a leading retailer company in selling fuel and non-fuel goods and services,” the statement said.

MOL Group said in its statement dated December 3 that it currently operates 192 service stations in the Czech Republic under the brands Slovnaft, Pap Oil and Lukoil “which are planned to be united in the course of 2015 under two strong brands”, the statement said.

MOL Group’s Lars Hoglund, retail senior vice president, said in the statement that the group has plans to introduce the MOL brand in the Czech Republic while also keeping the Pap Oil brand. The MOL name is already used in Hungary, Romania, Serbia, Slovenia and Austria.

All oﬀers of fuels and services, including fuel cards, will remain unchanged following the Lukoil service stations acquisition, the statement said.

Back in November the Czech Republic oﬃce for the protection of competition had said it was analyzing whether any sale of Lukoil stations to MOL would negatively impact the retail market for fuels, lubricants and accessories in the country. There was not any reference to any ongoing investigation in MOL's statement.

“After meeting all the contractual terms and concluding this transaction, MOL Group will be among the ten largest companies in the Czech Republic,” the statement said.

Lukoil did not have any statement about the transaction in its December press releases in its main web page.

In May 2014, the MOL Group announced the acquisition of 208 ENI service stations in three Central and Eastern European countries, including the Czech Republic.

Last update: December 5, 2014