Announcement of business developments
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that MEDSYMPAN LIMITED which is a wholly owned subsidiary of the subsidiary CORAL A.E., entered into a Share Purchase Agreement (SPA) for the acquisition of 75% of the shares issued by APIOS D.O.O. a company registered in Croatia.
APIOS D.O.O. was founded in 2009 and operates a network of retail service stations in Croatia comprising of 26 sites under the APIOS D.O.O. trade-mark and a market share equal to 3%.
The value of the transaction will be in the magnitude of EURO 10 million.
MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. will inform the investment public with regards to the development of the above transaction with a subsequent announcement.
Maroussi, 8 January 2021
The Board of Directors