Mol Group Authorized to Acquire OMV Slovenija

The European Commission has given its final approval for the acquisition of OMV Slovenija by the Hungarian oil and gas company Mol, putting the Mol Group on track to become the second largest player in the segment in Slovenia.

The Mol Group has fulfilled all the conditions for closing the transaction to acquire a 92.25% stake in OMV Slovenija, the Hungarian company said in a statement.

It was recalled that the sale and purchase agreement to acquire the second largest fuel retailer in the Slovenian market was signed on June 7, 2021.

The European Commission's in-depth investigation into the acquisition concluded that once Mol had complied with the remedies imposed by the European Union, sustainable competition in the Slovenian market was guaranteed after the transaction was closed.

Mol argued that competition in the country would only increase after the transaction and the implementation of the remedies, as the emergence of a strong second player would put pressure on the incumbent, leading to better prices and higher quality for Slovenian consumers.

As a condition of the European Commission's positive decision on the acquisition of OMV Slovenija, the Mol group signed an agreement in March 2023 to sell 39 service stations from its future network in Slovenia to Shell.

According to the statement, Mol expects the transaction with OMV Slovenija to close by June 30, 2023.