Bulgarian company NIS PETROL, a wholly owned subsidiary of NIS Serbia, has received authorities' approval to acquire five fuel retailers in the country. These are Rakar (northern city of Varna), Emko-M (southern city of Plovdiv), Silgrans (Danube town of Silistra), Varna Petrol Group (Varna) and Neftotrans 200 (southern town of Pazardzhik). The transaction is not expected to impact negatively the degree of competition on the retail market for car fuels in Bulgaria.
NIS owns Serbia's largest network of petrol stations - 417. The company aims to become a regional leader by 2020. Russia's Gazprom Neft controls 56% of NIS, the Serbian state follows, with a 30% stake, while the remainder belongs to smaller shareholders.
NIS owns Serbia's largest network of petrol stations - 417. The company aims to become a regional leader by 2020. Russia's Gazprom Neft controls 56% of NIS, the Serbian state follows, with a 30% stake, while the remainder belongs to smaller shareholders.
Source: Intellinews-Bulgaria Today