Poland’s largest refiner PKN Orlen, which owns Czech Unipetrol, has bought Austria’s Doppler Energie, expanding its retail business into a seventh European market. Doppler operates the third-largest network of petrol stations in Austria.
The takeover of 266 service stations
“Today we signed an agreement to take over 266 service stations in Austria under the Turmöl brand, which is the third largest retail brand in this market,” said Daniel Obajtek, the company’s CEO.
The deal will give PKN Orlen 10 percent of the Austrian retail market and a 14 percent share of the wholesale market. Obajtek expects the European Commission (EC) to approve the deal within weeks. He said Doppler’s petrol station network has similar profitability to the stations PKN Orlen bought from Hungary’s MOL last year.
The goal is 3500 stations
PNK Orlen aims to have a total of 3,500 service stations by the end of the decade. The company said in a press release that after the acquisition of Doppler, it has more than 3,400 service stations in seven countries. The group wants to increase profits from its foreign retail operations.
PKN Orlen, which is controlled by the state, took over gas company PGNiG and oil company Lotos last year. The mergers were part of a broader plan by Poland’s ruling Law and Justice (PiS) party to increase control over the economy and create so-called national champions to rival global players. The company plans to invest 320 billion zlotys (CZK 1.7 trillion) this decade.
Source Czech Press Office
