MOL enters the Polish market by acquiring 417 LOTOS service stations nationwide for USD 610 million. Thus, MOL has the potential to become the third largest player in the local fuel retail market. As part of the transaction, PKN Orlen buys 185 service stations from the MOL Group’s portfolio in Hungary and Slovakia for USD 259 million. Following the transaction, MOL already exceeds its strategic target set for 2025 and reaches almost 2400 service stations.
An additional long-term agreement ensures the supply of fuel for the network purchased in Poland. The agreements are in line with the updated long-term strategy of the MOL Group “SHAPE TOMORROW” 2030+.
Through this acquisition, the MOL Group continues its expansion and is represented in its tenth country through the Consumer Services segment. The number of service stations in the MOL portfolio reaches 2,390, since 1,943, and they are operated under five different brands. Also included are the 120 newly acquired OMV service stations in Slovenia, as well as the 95 new stations in Slovakia and Hungary. These acquisitions are subject to the approval of the merger.
“For MOL, this transaction is a major step in the strategic transformation journey that began in 2016 and was accelerated last year by our updated strategy. The acquisition of the ACG asset in Azerbaijan, the construction of the new polyol plant in Hungary and the entry into the Polish market are important milestones in achieving our goals. With this acquisition we will have access to the largest economy in Central and Eastern Europe, and our products and services will reach almost 40 million potential customers. Hungarians and Poles share the same historical experiences, and our common goal is to ensure an efficient supply of energy in Central and Eastern Europe. I am convinced that with this agreement, the North-South energy corridor will be further strengthened,” said Zsolt Hernádi, President and CEO of the MOL Group.
The agreement is subject to the European Commission’s decision through which PKN Orlen will get the green light to finalize the merger with Lotos.