MOL feeds 67m euros into former Shell

Investment in Romania by Hungarian petroleum group MOL has increased significantly after the registering with the Trade Registry of a new company, Mol Ro Comert SRL, in April, with a subscribed capital of more than 67 million euros. The new company is in fact the former Shell Romania SRL, the Romanian branch of Anglo-Dutch giant Shell, which was acquired by MOL in a deal of over 53 million euros at the end of last year. The executive manager of MOL, Gyorgy Mosony, announced this spring that Shell Romania would change its name to Mol Ro Comert SRL, following integration of the filling stations acquired by MOL. MOL officials said that the registration of the new company would be followed by a six-month period during which the former Shell stations would be integrated into the MOL network, a process which would end with the merger of the two MOL two companies in Romania – MOL Petroleum Products (based in Cluj) and Mol Ro Comert (Bucharest). ZF