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Bulgaria's Prista Oil buys Chevron Czech Republic s.r.o.

Author Dena Popova
Bulgaria's Prista Oil buys Chevron Czech Republic s.r.o.

SOFIA (Bulgaria), August 5 (SeeNews) - Bulgarian motor oils and industrial lubricants producer Prista Oil acquired Prague-based Chevron Czech Republic s.r.o. as part of its strategy to expand in Central and Eastern Europe, Prista Oil said on Monday.

As part of the deal Prista Oil will continue to develop the Texaco brand in the next five years, the Bulgarian company said in a press release.

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"Our partnership with Chevron is a key element of Prista Oil's business strategy for growth and promotion of the company's multibrand strategy," Plamen Bobokov, president of Prista Oil's board of directors, said in a company statement. "Our plans are to strengthen this partnership to cover more of Prista Oil's major markers by the end of the year year."

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