Hungarian oil and gas company MOL has completed the acquisition of ENI Romania, including 42 service stations branded Agip. MOL will rebrand the gas stations.

"This transaction significantly contributes to MOL Group’s objective of increasing its retail market share in CEE in general and its country-wide coverage in Romania in particular. We are committed to developing our activities in Romania, for the long-run,” said Lars Höglund, Senior Vice President of MOL Group Retail.

In 2015, MOL will reach a network of about 200 units in Romania, as a result of integrating the acquired units.

This transaction is part of a larger international deal in which MOL bought 208 service stations in Romania, Czech Republic and Slovakia from Italian group ENI.

ENI Romania will be renamed MOL Retail Comert as of February 2. At a later stage, this company will be merged with MOL Romania.

Fuel distribution company MOL Romania had a turnover of EUR 979 million, and a net profit of EUR 20.3 million, in 2013.

Andrei Chirileasa, andrei@romania-insider.com