PetrolWorld noted that, Robin Oil, which owns a 67-station network in the Czech Republic, is seeking CZK3 billion for the sale of its fuel retail network to Unipetrol, while Pap Oil is valuing its 140 locations at CZK4 billion.
Market experts are reportedly of the opinion that the total cost of the combined assets is highly inflated, while local media is reporting that strong interest by Unipetrol could eventually increase the prices over their justified value, according to PetrolWorld.
Unipetrol is seeking to add these fuel retail assets to its network of 319 stations in the country, increasing its market share to 20% by 2009 year-end from 14%, reported PetrolWorld.
