December 29 (SeeNews) - Slovenian fuel retailer Petrol [LJE:PETG] said on Friday it has become a majority shareholder in wholesale natural gas supplier Geoplin by completing the acquisition of a 49.6% stake in its capital.
Petrol currently controls a 56.9% shareholding interest Geoplin, the fuel retailer said in a filing with the Ljubljana Stock Exchange without revealing financial details.
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As part of the deal, state holding company SDH acquired a 52.3% stake in the capital of gas infrastructure operator Plinhold, the owner of gas network operator Plinovodi, Petrol said.
In July, Petrol said it signed a deal to acquire a stake in Geoplin from the country's biggest insurer Zavarovalnica Triglav [LJE:ZVTG] and its subsidiary Salnal. Under the deal's terms, SDH will acquire the share of Salnal in Plinhold, Petrol said back then.
Triglav is due to receive 14.5 million euro ($17.4 million) for the holdings, it said in a separate release, adding that the Triglav Group holds a 7.8% equity stake in the companies.
In July 2016, Petrol exchanged a stake in Plinovodi for shareholding interest in Geoplin in a swap deal with the state.
($ = 0.8338 euro)
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