MOL buys Agip stations on Czech market

The Hungarian oil holding MOL is buying a network of 124 Agip petrol stations in the Czech Republic from its Italian owner ENI. This makes MOL the second strongest player on the Czech market behind Benzina. The Hungarian state-controlled MOL already owns 125 Pap Oil petrol stations and 24 Slovnaft petrol stations.

Under the deal, MOL will give ENI a refinery in Mantova and some petrol stations it owns in Italy, writes Hospodářské noviny, adding that the rest of the acquisition will be paid in cash. ENI has reportedly been considering exiting the Czech market for quite some time, as its Agip network was in the red.