Ina announced on Friday that it supports its strategic partner Mol in the latest activities regarding the acquisition of the Tifon retail network. From Ina, where the Hungarian Mol holds 25 percent plus one share, they state that they believe Mol’s acquisition of Tifon is in the mutual interest of both Ina and Mol and represents a further step in market consolidation.
The Hungarian oil company Mol signed a contract yesterday to purchase a 100 percent stake in Tifon, a company for the retail and wholesale of fuel, previously owned by Ivan Čermak. Mol stated that this transaction, which still requires approval from regulatory bodies, contributes to achieving the company’s set goals in retail growth. Tifon currently operates 36 well-positioned own gas stations throughout Croatia and is working on implementing more than 20 development projects “at prime locations,” with completion expected in the next two years. The average fuel turnover per station at Tifon is over 4.2 million liters annually, and Tifon is expected to have a market share of 7 percent in the Croatian derivatives market by the end of the year. Tifon announced last night that Mol was selected among several bidders due to its clear development vision and the fact that Mol is a long-term partner of Tifon and a supplier of high-quality fuels, ensuring the continued development of their retail network. Tifon d.o.o. is engaged in the storage, trade, and transport of oil and oil derivatives in the territory of the Republic of Croatia and neighboring countries, international units and organizations, the sale and delivery of heating oil, and retail in its own network of gas stations. (H)
