The transaction comprises 120 filling stations across Slovenia as well as OMV Slovenija's wholesale business, INA said in a statement on Monday.
“INA would be the main supplier of fuel to all existing and newly-acquired retail stations of INA and MOL in Slovenia," the Croatian company added.
INA did not disclose the price of the acquisition but OMV said in a separate statement that the agreed purchase price amounts to 301 million euro ($366.4 million) for a 100% stake.
“As part of the agreement, MOL Group will assume outstanding lease liabilities resulting in a total enterprise value for the business of approximately 346 million euro,” OMV added. The purchase price is subject to customary net working capital and net debt adjustments.
Following the transaction, INA and MOL will become owners of 100% interest in OMV Slovenija among themselves.
INA already owns 7.75% of OMV Slovenija d.o.o and following the acquisition its stake will increase to 33%.
MOL is the largest shareholder of INA with almost 50%, followed by the Croatian government with some 45%.
INA's share traded unchanged at 3.200 kuna ($519,80/427 euro) on the Zagreb Stock Exchange on Tuesday morning in slim turnover.
(SeeNews, June 8, 2021)