Slovenian retailer Mercator, part of Croatian business group Fortenova, said it completed on Monday the sale of M Energija, the manager of the Maxen chain of filling stations, to UAE-based wholesaler of petroleum products Sunqar Resources.
"The sale of M Energija, which represented slightly less than one percent of total revenues in Mercator's operations, follows the strategy of focusing Mercator and the Fortenova Group on their core business," Mercator said in a press release. The value of the deal was not disclosed.
Maxen's network comprises 21 self-service petrol stations operating throughout Slovenia. Launched under the En Plus brand in 2006, they were the first self-service petrol stations in the country. Mercator acquired the chain in 2011.
Sunqar Resources is a wholesaler of petroleum products, liquefied petroleum gas (LPG) and coal. Its clients include filling stations and LPG station networks in eastern Europe, the Baltic States, and Central Asia, according to its website. In Southeast Europe, it is active in Moldova, Romania and Bulgaria.
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