Fuel retailer Eko Bulgaria to buy 7 Tempo Petrol stations

27.03.2008 Source: Dnevnik

Eko Bulgaria, part of the Greek Hellenic Petroleum Group, will buy for an undisclosed amount seven of the nine filling stations of Tempo Petrol, as well as a fuel storage depot of the retailer. The deal should be approved by the Commission for Protection of Competition. Its decision is expected in a month at the latest, as Tempo's share of the domestic fuel retail trade is estimated at 1% or less. According to experts, the cost of the deal is estimated to be around EUR 10m. Hellenic Petroleum plans to invest about EUR 150m in franchise expansion in Bulgaria.