Bulgarian fuel retailer Uni Energy is set to acquire NIS Petrol Bulgaria, the local subsidiary of Serbia’s NIS, for more than €30mn, Serbian media reported.
NIS, majority-owned by Russia’s Gazprom and its subsidiary Gazprom Neft, is divesting its Bulgarian assets amid increasing pressure from secondary US sanctions. In July, NIS’s board approved the sale of its Bulgarian subsidiary, citing operational challenges. The company has also signalled a possible exit from Romania, where it currently operates 19 fuel stations.
The transaction, which is pending regulatory approval, would see Uni Energy take over a network of 23 operational petrol stations, 13 undeveloped plots and a fuel storage facility in Kostinbrod, near Sofia. The deal has been notified to Bulgaria’s Commission for Protection of Competition, which is currently reviewing the proposed acquisition.
Full story bne IntelliNews - Bulgaria’s Uni Energy to acquire NIS petrol network for over €30mn
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