Neste wants to be among the biggest fuel retailers in Lithuania.
VILNIUS — Neste Oil is set to acquire 22 unmanned fuel stations from Alexela, which is pulling out of Lithuania to focus on Estonia.
Neste Oil currently has an 11 percent share of the local market, which will rise to nearly 15 percent following the acquisition. The new stations will add to the existing network of 37 stations in Lithuania, which will make it third largest by market share in the country. The new stations are unmanned allowing customers to pre-pay using and pump fuel by themselves.
“Neste Oil’s goal is to be among the top two players in all its [private_supervisor]selected retail markets and this deal with Alexela Oil will bring us closer to this position in Lithuania,” Neste Oil’s Executive Vice President Sakari Toivola said.
The deal means that all of the Estonian-based Alexela Oil stations in Lithuania will be bought out and because of that, the deal requires the approval of the Lithuanian competition council. Recently the competition council launched an investigation into suspected price fixing in the fuel industry between two of the country’s biggest petrol retailers, Statoil and Lukoil.
Alexela said it needs to focus on its home market.
“Our current priority is to concentrate on the local Estonian market, which has proven successful,” Heiti Hääl, chairman of Alexala Oil’s board of directors said. “We are very satisfied that we have found a reliable and well-respected company in the shape of Neste Oil to take over our Lithuanian business.” [/private_supervisor] [private_subscription 1 month]selected retail markets and this deal with Alexela Oil will bring us closer to this position in Lithuania,” Neste Oil’s Executive Vice President Sakari Toivola said.
The deal means that all of the Estonian-based Alexela Oil stations in Lithuania will be bought out and because of that, the deal requires the approval of the Lithuanian competition council. Recently the competition council launched an investigation into suspected price fixing in the fuel industry between two of the country’s biggest petrol retailers, Statoil and Lukoil.
Alexela said it needs to focus on its home market.
“Our current priority is to concentrate on the local Estonian market, which has proven successful,” Heiti Hääl, chairman of Alexala Oil’s board of directors said. “We are very satisfied that we have found a reliable and well-respected company in the shape of Neste Oil to take over our Lithuanian business.” [/private_subscription 1 month] [private_subscription 4 months]selected retail markets and this deal with Alexela Oil will bring us closer to this position in Lithuania,” Neste Oil’s Executive Vice President Sakari Toivola said.
The deal means that all of the Estonian-based Alexela Oil stations in Lithuania will be bought out and because of that, the deal requires the approval of the Lithuanian competition council. Recently the competition council launched an investigation into suspected price fixing in the fuel industry between two of the country’s biggest petrol retailers, Statoil and Lukoil.
Alexela said it needs to focus on its home market.
“Our current priority is to concentrate on the local Estonian market, which has proven successful,” Heiti Hääl, chairman of Alexala Oil’s board of directors said. “We are very satisfied that we have found a reliable and well-respected company in the shape of Neste Oil to take over our Lithuanian business.” [/private_subscription 4 months] [private_subscription 1 year]selected retail markets and this deal with Alexela Oil will bring us closer to this position in Lithuania,” Neste Oil’s Executive Vice President Sakari Toivola said.
The deal means that all of the Estonian-based Alexela Oil stations in Lithuania will be bought out and because of that, the deal requires the approval of the Lithuanian competition council. Recently the competition council launched an investigation into suspected price fixing in the fuel industry between two of the country’s biggest petrol retailers, Statoil and Lukoil.
Alexela said it needs to focus on its home market.
“Our current priority is to concentrate on the local Estonian market, which has proven successful,” Heiti Hääl, chairman of Alexala Oil’s board of directors said. “We are very satisfied that we have found a reliable and well-respected company in the shape of Neste Oil to take over our Lithuanian business.” [/private_subscription 1 year]
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