Oil giant Cepsa to buy up HUNDREDS of ‘low-cost’ petrol stations across Spain

Low-cost chain of self-service petrol stations brought out by oil giant in Spain
Ballenoil image

CEPSA, Spain’s second largest oil company, said on Monday that it had agreed to buy 220 automated low-cost petrol stations in Spain from Ballenoil for an undisclosed amount.

It emerged in May that Cepsa was in advanced negotiations to acquire Ballenoil, with speculation that the deal could be worth between €200 and €300 million.

The oil giant will maintain the Ballenoil name, as well as its business model and current structure, as well more than doubling the network to 500 stations by 2027.

It also aims to make Ballenoil the benchmark for sustainability in the low-cost market with plans to progressively add electric charging points and incorporate the sale of biofuels.

Meanwhile, Ballenoil said that the agreement with Cepsa supports and strengthens its strategy for the future, promoting network growth and the incorporation of new energies while guaranteeing its fuel supply.

Ballenoil has a presence in 12 regions including Catalunya, the Valencian Community, Andalucia, Madrid, and Murcia.

Cepsa, which is controlled by Abu Dhabi state investor Mubadala and U.S. firm Carlyle Group, intends to expand its overall network to more than 2,000 stations across Spain and Portugal.

It has just over 1,500 outlets but lags well behind Repsol that has over 3,300 stations.

In recent years, it has bought some petrol stations, but only very occasionally, to complete its network in some regions.

Low-cost petrol stations have boomed over the last decade from 3,886 outlets in 2012 to 5,941 at the end of last year.

The Cepsa deal to takeover Ballenoil is subject to regulatory approval.

READ MORE:

Alex Trelinski

Alex worked for 30 years for the BBC as a presenter, producer and manager. He covered a variety of areas specialising in sport, news and politics. After moving to the Costa Blanca over a decade ago, he edited a newspaper for 5 years and worked on local radio.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BREAKING: British woman is arrested in connection with the assassination attempt of far-right politician in Spain
Previous Story

Terrorism probe is launched into failed assassination attempt of far-right politician in Spain

Next Story

Plans for a €300m 5-star hotel in Spain’s Marbella are suspended by the Junta

Latest from Andalucia

Go toTop

More From The Olive Press

Benidorm brothel that exploited women round-the-clock is raided by police with four victims rescued

Benidorm brothel exploited vulnerable women round-the-clock with four victims rescued by police

FOUR women have been rescued by the Policia Nacional in
Spain's top supermarket Mercadona announces €150m in food price cuts including olive oil

Spain’s top supermarket Mercadona announces €150m in food price cuts including olive oil

SPAIN’S leading supermarket in terms of market share- Mercadona- says