Italian oil major Eni announced it would acquire fuel service station business Oil Tankstellen from Prax through its Enilive subsidiary. The companies did not disclose the purchase price for the transaction.
Enilive, which houses Eni's mobility businesses and is co-owned with U.S. private equity firm KKR holding a 30% stake, will gain approximately 320 service stations across Germany, Denmark, Austria, and Switzerland.
The acquisition will expand Enilive's existing European network of roughly 5,300 service stations. The deal strengthens Eni's downstream presence in key European markets through its mobility-focused subsidiary.
The transaction remains subject to customary regulatory approvals before closing. Eni continues to pursue its strategy of growing its sustainable mobility and retail footprint across the continent.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing