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Turkish fuel retailer Opet offers 100 mln euro for Serbia's Knez Petrol - report

Turkish fuel retailer Opet offers 100 mln euro for Serbia's Knez Petrol - report raybon/Shutterstock.com

BELGRADE (Serbia), July 17 (SeeNews) – Turkish fuel retailer Opet has proposed to buy Serbian peer Knez Petrol for 100 million euro ($114.6 million), Belgrade-based media reported on Monday.

Opet wants to make a breakthrough on the Serbian market by becoming the sole owner of Knez Petrol, the second largest fuel retailer in the country, news daily Vecernje novosti reported.

The owner of the Turkish company, Fikret Ozturk, reportedly met with the owner of Knez Petrol, Srdjan Knezevic, last week in Belgrade to discuss the possible acquisition, according to the newspaper.

Knez Petrol is the second largest fuel retailer in Serbia, right behind NIS Petrol, and runs 85 petrol stations where it employs 1,500 people.

Novosti noted that if Knezevic accepts the offer the deal should be finalised by mid-August, prior to the scheduled visit of Turkish president Recep Tayyip Erdogan to Serbia.

Opet is the second biggest fuel retailer in Turkey, and has more than 1300 stations under the brands of Opet & Sunpet, according to information from the corporate website.

($=0.872777 euro)

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