Petrol to operate independently in Montenegro
Ljubljana, Podgorica, 8 August 2011 Following the signature of an agreement between the companies Petrol d.d., Ljubljana and Montenegro Bonus d.o.o., Cetinje, Petrol took full control of the company Petrol - Bonus d.o.o. in which it had previously held a 50-percent interest. The signing of the agreement means that the rights and obligations of Petrol d.d., Ljubljana arising from the Petrol - Bonus establishment agreement are terminated, with the two parties now set to focus on their core business activities. Petrol will henceforth operate independently in Montenegro.
Montenegro Bonus d.o.o., Cetinje and Petrol d.d., Ljubljana signed today the Agreement Terminating the Rights and Obligations Arising from the Petrol - Bonus Establishment Agreement of 24 July 2007 and Other Related Documents (Sporazum o prestanku prava i obaveza koje prostiču iz Ugovora o osnivanju Petrol - Bonus d.o.o. od 24.7.2007.g. i drugih povezanih dokumenata) as well as the Transfer/Sale and Purchase Agreement (Ugovor o prenosu-kupoprodaji). The signing of the agreements means that all the rights and obligations of the parties under the Agreement of 24 July 2007 are terminated, with both Petrol and Montenegro Bonus now set to focus on their core business activities.
As part of its operations in Montenegro, Petrol will continue to develop a network of state-of-the-art service stations and supply top-quality fuel and liquefied petroleum gas to consumers and certain major customers. Montenegro Bonus, on the other hand, will actively develop the area of storage and wholesale in respect of all petroleum products. Thanks to the new agreement, new possibilities for future cooperation between both companies are opening up, especially as regards procurement, logistics and supply. The two companies have already expressed interest to analyse and realise these possibilities.
In accordance with the strategy it has adopted, the Petrol Group intends to establish a network of some 12 to 14 state-of-the-art service stations in the market of Montenegro, an investment worth approximately EUR 25 to 30 million.
The President of Petrol's Management Board, Tomaž Berločnik, MSc, made the following statement on the occasion of signing the agreement: "By entering into this agreement, Petrol maintains its presence and continues its activities in Montenegro with a view to offering its Montenegrin customers top-quality products and services. In accordance with our strategy, we will also continue to transfer good practices from the markets in which we already operate. In addition, the agreement enables us to expand the network of service stations operating under our brand name, which was also rated by the International Automobile Federation (FIA) as one of the best in Europe."
Management Board of Petrol d.d., Ljubljana
Montenegro Bonus d.o.o., Cetinje and Petrol d.d., Ljubljana signed today the Agreement Terminating the Rights and Obligations Arising from the Petrol - Bonus Establishment Agreement of 24 July 2007 and Other Related Documents (Sporazum o prestanku prava i obaveza koje prostiču iz Ugovora o osnivanju Petrol - Bonus d.o.o. od 24.7.2007.g. i drugih povezanih dokumenata) as well as the Transfer/Sale and Purchase Agreement (Ugovor o prenosu-kupoprodaji). The signing of the agreements means that all the rights and obligations of the parties under the Agreement of 24 July 2007 are terminated, with both Petrol and Montenegro Bonus now set to focus on their core business activities.
As part of its operations in Montenegro, Petrol will continue to develop a network of state-of-the-art service stations and supply top-quality fuel and liquefied petroleum gas to consumers and certain major customers. Montenegro Bonus, on the other hand, will actively develop the area of storage and wholesale in respect of all petroleum products. Thanks to the new agreement, new possibilities for future cooperation between both companies are opening up, especially as regards procurement, logistics and supply. The two companies have already expressed interest to analyse and realise these possibilities.
In accordance with the strategy it has adopted, the Petrol Group intends to establish a network of some 12 to 14 state-of-the-art service stations in the market of Montenegro, an investment worth approximately EUR 25 to 30 million.
The President of Petrol's Management Board, Tomaž Berločnik, MSc, made the following statement on the occasion of signing the agreement: "By entering into this agreement, Petrol maintains its presence and continues its activities in Montenegro with a view to offering its Montenegrin customers top-quality products and services. In accordance with our strategy, we will also continue to transfer good practices from the markets in which we already operate. In addition, the agreement enables us to expand the network of service stations operating under our brand name, which was also rated by the International Automobile Federation (FIA) as one of the best in Europe."
Management Board of Petrol d.d., Ljubljana
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