Agip buys two Fix Oil stations in Bucharest

The biggest European petrol corporation currently active on the Romanian market, Eni, has kept a low profile in the last few years, with some observers saying that it would definitely leave the market. But its latest moves indicate the fact that the Italian petrol stations operator Agip is interested in expanding its operations on the market, both by acquiring petrol stations and by building new units. Agip Romania started a plan to develop its own network in its strategy to strengthen Eni”s downstream activities (fuel processing and distribution) in Europe. The Board of Directors of Agip Romania, the local branch of the Italian giant Eni, decided to acquire two stations in the capital from Fix Oil, owned by Cyprus-based T.I.S. Investment Limited. “Agip Romania received a sale offer from Fix Oil, for two service stations located in Bucharest on roads with heavy traffic,” as shown in the decision taken by the company”s Board of Directors. Eni endorsed the acquisition project that will amount to 3.76 million euros, 3.2 million euros of which accounting for the purchase price and the rest of the money representing rebranding and retooling costs. ZF