MOL can now acquire Slovenian oil company

The European Commission has now approved Hungarian oil and gas company MOL’s acquisition of Slovenian peer OMV Slovenija.

Austria’s OMV had agreed to sell MOL its Slovenian unit, including 120 petrol stations and a wholesale business, in June 2021

The EC aired concerns over the deal, in its initial form, as it would reduce the number of significant retail motor fuel operators in Slovenia from three to two and significantly reduce competition in the market for retail motor fuel sales from non-motorway fuel stations.

In March 2023, MOL said it agreed to part with 39 of its petrol stations in Slovenia to win EC approval of the deal.

This week, the EC said commitments, including the divestment of the 39 petrol stations to Shell Group, “fully address” competition concerns identified earlier.