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May 7, 2014

Eni sells refining and marketing assets in Romania, Czech Republic and Slovakia to MOL Group

Mary Page Bailey

Eni S.p.A. (Rome; www.eni.it) has signed an agreement with oil-and-gas company MOL Group (Budapest, Hungary; www.mol.hu/en) for the sale of its 32.445% stake in ńĆeská Rafinérská a.s. (CRC), a refining company in the Czech Republic. The transfer is subject to the preemption right on the part of the other partner in CRC, Unipetrol, which will be able to purchase the share under the conditions agreed with MOL.
 
Eni also signed further agreements for the sale of its subsidiaries Eni ńĆeská Republika, Eni Slovensko and Eni Romania to MOL Group. These subsidiaries operates in the Refining & Marketing business, with activities in Czech Republic, Slovakia and Romania respectively.
 
The completion of these agreements is subject to certain conditions, including prior approval by the competent antitrust authorities. Eni will remain active in all three countries through the wholesale marketing of lubricants. These agreements are a further step towards a reduction of the refining focus and to a recovery of the profitability in the Refining & Marketing sector. With the transfer of the share of CRC, Eni decreases its refining capacity by 7%, which adds to the 13% of reduction applied in 2013.

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