Polish oil giant PKN Orlen is buying 17 gas stations in southern Germany, expanding its network to 604 in the country, the company announced on Thursday.
Its existing stations had predominantly been based in the western and northern parts of the country, but PKN Orlen is now targeting acquisitions in the southern regions of Bavaria and Baden-Württemberg.
“We are finalizing the acquisition of 17 gas stations in southern Germany, where we did not have a strong presence before,” said CEO of PKN Orlen Daniel Obajtek, who explained the transaction is being financed with funds from the sale of Lotos Group stations to Saudi Aramco and Hungarian MOL.
The sale of Lotos stations was one of the conditions set by the European Commission to avoid Orlen’s monopoly in the fuel market before the European Commission approved Orlen’s merger with Lotos.
In accordance with the Orlen 2030 strategy, the company aims to own 3,500 gas stations in at least six Central European countries, with sales from stations outside Poland contributing to 45 percent of sales, compared to the current 37 percent.
A total of 12 out of the 17 stations acquired by Orlen in Germany are located within the area of Aldi Süd discount stores in Bavaria and Baden-Württemberg. The rebranding process will be finished within three months after the acquisition.