INA and MOL have received the European Commission's final approval for the takeover of OMV Slovenia, which is expected to be completed by the end of June, after which Ina will increase its share in OMV Slovenia from the current 7.75 to 33%, Ina reported on Saturday.

MOL Group, which INA belongs to, received the approval of the European Commission, by which all the conditions for taking over a 92.25% stake in OMV Slovenia have been fulfilled.

The approval comes after an in-depth analysis by the MOL Group of the potential takeover of the retail network OMV Slovenia.

As a precondition for the European Commission’s positive decision on the takeover of OMV, MOL Group signed an agreement in March to sell 39 gas stations to Shell from its future combined retail network in Slovenia.

The conclusion of the transaction with OMV Slovenia is expected by 30 June of this year.

At the same time, INA says, the agreement between MOL and INA will be implemented, according to which INA will increase its share in OMV Slovenia from the current 7.75 percent to 33 percent.

“The takeover of OMV’s operations in Slovenia will enable INA and MOL to utilize the entire production, logistics and refining capacities in the wider Central European region to a greater extent than today, and the MOL Group in partnership with INA will become the second largest player on the Slovenian market,” the press release said.

It is added that “at the level of the MOL Group, the belief is expressed that market competition in Slovenia will be further strengthened by this transaction and the completion of remedial measures for the protection of market competition” because, as stated, “the appearance of a strong second player will put pressure on the dominant service provider and will result in better prices and quality for all customers in Slovenia”.

The leading market share in fuel sales in Slovenia is currently held by Petrol.