Petrol Became 100% Owner of Euro-Petrol d.o.o.
Ljubljana, 17th May, 2012 – After having met all suspension conditions as defined in the Agreement on purchasing the remaining 49-percent interest in Euro-Petrol d.d.o., Petrol d.d., Ljubljana became 100% owner of this Croatian company.
On 16th September 2011, Petrol d.d., Ljubljana signed an agreement on purchasing a 49-percent interest in Euro-Petrol d.o.o., a Croatian company, from the other partner, Jozo Kalem. Petrol d.d., Ljubljana already purchased a 51-percent interest in this company from the above-mentioned partner in 2008. After having purchased the remaining interest in the company, Petrol became its 100% owner.
By purchasing the remaining interest in Euro-Petrol d.o.o., Petrol took a significant step in strengthening its position in an increasingly demanding international business environment. This action is a move towards the optimisation and consolidation of business of the two companies (Petrol Hrvatska and Euro-Petrol) on the Petrol Group’s second most important market. By the end of the year, Petrol is expected to operate and appear on the Croatian market with a single brand, and to be able to implement its strategy successfully through an accelerated transfer of excellent business models and good practices.
Euro-Petrol d.o.o. is engaged in the sale of petroleum products and other merchandise in Croatia. In 2011, the company sold 249,100 tons of petroleum products, revenue from the sales of crude oil and petroleum products totalled EUR 279.6 million, revenue from the sales of merchandise EUR 15.8 million, and revenue from the sales of services EUR 5.9 million. In total, Euro-Petrol d.o.o. generated EUR 301.3 million in net sales revenues in 2011. The company generated a net profit of EUR 3.5 million in 2011. At the end of 2011, Euro-Petrol d.o.o. operated through 51 petrol service stations.
The Management Board of Petrol d.d., Ljubljana