Daily News for Energy & Environment

Romania: Hungarian group MOL takes over Romanian firm from its own subsidiary

Hungarian energy group MOL will take direct control of Romanian company MOL Retail Comert, the former ENI Romania, from two of its subsidiaries registered in the Netherlands.

MOL will transfer almost EUR 32 million in the accounts of the two Dutch subsidiaries as part of the deal.

In February 2015, MOL completed the acquisition of ENI Romania from the Italian group ENI. The Hungarian group thus became the owner of 42 gas stations owned by ENI in Romania, operated under the AGIP brand. The takeover was carried out via MOL’s Dutch subsidiaries.

After the takeover in 2015, ENI Romania was renamed MOL Retail Comert, and the company’s headquarters was moved from Bucharest to Cluj-Napoca last year. The parent company MOL has now taken the Romanian company from the Dutch subsidiaries via a concession contract. The transfer price was EUR 32 million.

MOL Retail Comert had sales of EUR 97 million in 2015. Meanwhile, MOL Romania had a turnover of EUR 995 million the same year.

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