“In both countries, the purpose of this transaction is to optimize market presence of the two companies, and to meet their development goals,” said MOL officials.
As such, MOL group will have 73 gas stations in Austria and 121 in Romania, while Agip will operate 158 stations in Austria and 37 in Romania. The transaction is now awaiting approval of the Competition Councils in Romania and Austria.
The General Manager of Agip Romania, Nicola Meuli, said in 2007 that the network will invest €36 million by 2011 to build 30 gas stations, which give the company a four percent market share up from its current 1.8 percent.
