The Croatian and Hungarian oil companies INA and MOL are a step closer to acquiring OMV Slovenia, and since the transaction requires merger approval, MOL is now selling its 39 service stations in Slovenia so the takeover can go ahead, INA announced on Tuesday.

In 2021, INA and MOL reached an agreement to buy OMV’s 92.25% stake in OMV Slovenia, in which INA already holds a 7.75% stake. The transaction is subject to approval of concentration.

On 9 March 2023, MOL Group signed a sales agreement with Shell for 39 service stations in Slovenia, some of which are owned by MOL Slovenia and some by OMV Slovenia.

This is one of the key requirements for obtaining clearance from the European Commission for the announced takeover of OMV Slovenia by MOL, INA said in a statement.

In this way MOL Group confirms its commitment to meeting all the competition requirements set by the European Commission and expresses its readiness to complete the acquisition process in the coming months, the statement said.

OMV Slovenia runs the second largest retail chain of 120 service stations across the country. The takeover will make it possible for INA and MOL to use the production, logistics and refining capacities in the wider region of Central Europe more than today, the statement said.

In February 2021, Austrian OMV announced its plan to sell the Slovenian arm of the company as part of the business optimisation and restructuring process.