Tifon currently owns and operates 36 well positioned fuel stations across Croatia. In addition, the company has more than 20 premium site development projects under implementation, which are expected to be finished within the next two years.
According to MOL, the average throughput per station exceeds 4.2 million liters per annum. Tifon’s retail market share is expected to reach 7% by the end of 2007.
The transaction, which is subject to regulatory approval, contributes to the fulfillment of MOL’s retail growth targets. The financial details of the transaction have not been released.
MOL owns a 25% stake in INA, an oil and gas company that also operates in Croatia. MOL said that its latest acquisition, which was supported by INA and the Croatian government, will create value for both MOL and INA.
