MOL allots 12m euros to Shell stations

Hungarian oil group MOL has earmarked 12 million euros for the integration of the 59 Shell Romania filling stations it acquired last November, said group CEO Gyorgy Mosony. About half of the funds will be for the rebranding of the newly acquired stations, with most of the rest to be used for their modernisation. “The strategy for the successful integration of the Shell Romania SRL operations involves changing the name of the company to Mol Ro Comert, which will merge within six months with MOL Romania. Until then, the two companies will be run by the same person, Karoly Robak (the current CEO of MOL Romania),” explained Mosony. Late last year MOL bought Shell Romania SRL in a deal whose value has not been disclosed. Sources close to the deal, however, say the Hungarian group paid around 70 million dollars (53 million euros) to take over the Romanian unit of the Anglo-Dutch giant. Apart from filling stations, Shell Romania SRL”s portfolio also includes lubricants and aviation fuel activities. ZF