Hungarian multinational oil and gas company MOL has signed an agreement with Indotek Group to acquire a 15 percent stake in Waberer’s. In parallel with the transaction, MOL and Waberer’s have signed a strategic cooperation agreement to strengthen their business cooperation in the areas of complex logistics services, alternative fuels, energy efficiency development, and green energy transition.
Investment management group Indotek also announced that it will sell its 28.9 percent stake in Waberer’s International Plc, acquired in 2020, with the remaining 15 percent to be sold through an investment service provider. The group will sell 15 percent of Waberer’s shares to MOL Vagyonkezelő Kft, a wholly owned subsidiary of Mol Plc, once the relevant permits have been obtained.
MOL and Waberer’s have developed a close relationship in the fields of complex logistics services and fuel sales in recent years. The current strategic agreement will further strengthen the traditional business activities of the two companies and will enable them to jointly implement mobility, sustainability, and energy efficiency projects.
The cooperation will also focus on the sale of fuels and lubricants, the development of alternative fuels, the exchange of knowledge on energy efficiency, and the development of specialized charging and service points.
MOL’s aim is to work with Hungary’s leading provider of complex logistics services to implement joint projects that will contribute to the company’s SHAPE TOMORROW 2030+ strategy. The objective of the strategy is for MOL to become a key player in the low-carbon circular economy of East-Central Europe and to supply the mobility sector with low-carbon fuels, the oil company said in its statement. The two large companies currently cooperate in a number of areas: Waberer’s provides complex logistics services to MOL at several locations, while the Hungarian oil company sells fuel and lubricants to Waberer’s.
Via MTI, Featured image: Facebook/Waberer’s