Business News

Petrol Acquires LPG in Croatia Expansion Drive

Ljubljana, 18 August (STA) - Petrol, Slovenia's biggest energy firm, said Wednesday it had acquired 100% of Butan, a Croatian retailer and distributor of liquefied petroleum gas (LPG) based in Osijek, for an undisclosed sum.

Petrol's second LPG acquisition in Croatia after the purchase in June of 51% of Jadranplin, the move is a new step in an expansion drive aimed at making it the no. 2 gas distributor in Croatia.

Butan, which has been renamed Petrol Butan Osijek, has filling centres for gas cylinders and cars, as well as LPG storage. Petrol plans to sell 20,000 tonnes of LPG in Croatia next year.

Petrol is the second biggest petrol retailer in Croatia, operating 77 filling stations across the country. The group plans to have 100 filling stations and about 1,000 employees in the country by 2014.

The company recently unveiled a strategy for southeastern Europe which involves spending EUR 428m on investments in the region until 2014, nearly a third of the sum earmarked for retail of gas and other non-petrol energy products.

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