MOL contemplates filling stations acquisition

Hungary’s oil group MOL intends to use part of the money it will get from the sale of its natural gas business to expand its network of filling stations in Romania, Budapest Business Journal reports. MOL had more than 53 stations on the Romanian market early this year, in addition to the 23 it bought from Anglo-Dutch giant Shell. MOL announced it would sell 75% of its natural gas business by yearend. MOL opened its “data room” to six potential bidders last month, which include Gaz de France (France), OMV (Austria) and JSC Naftogaz Ukrainy (Ukraine). The group intends to use the funds therefrom raised for INA (Croatia), for the expansion of the gas station chain in Romania, Serbia and Slovenia, as well as for its natural gas operations, that is what is left of them after the sale is done. Its expansion plans for Romania show the number of gas stations will expand to 80 by the end of the year, once the units acquired from Shell have been integrated. ZF