Slovenian Company Petrol Not Hiding Investment Interest in Croatia

Lauren Simmonds

The new head of the Slovenian company Petrol confirmed that they are indeed looking at possible acquisitions.

As Poslovni Dnevnik writes on the 25th of January, 2020, the Slovenian company Petrol remains interested in investing and expanding into the markets of Southeastern Europe, including the Croatian market, even after the appointment of the new president of the board of directors, Nada Drobna Popovic, according to Slovenian media.

She confirmed to Slovenian Radio that the company is interested in growing in Slovenia and across into other markets where it has been present so far, the most important of which is its presence in the Republic of Croatia.

According to Delo, a Slovenian publication, this statement from the Slovenian company Petrol comes as somewhat of a surprise since, at the initiative of the former supervisory board that Popovic chaired, Petrol director Tomaz Berlocnik had to resign three months ago as the new director felt that his plans for potential investment and acquisitions abroad were much too ambitious.

Popovic is expected to prepare a strategic plan for Petrol’s development by 2025 this year, and as Delo states, they do not want to comment on the purchase of the Croatian company Crodux because of interest in its ninety fuel stations, which would boost the Slovenian company Petrol and its position in the sale of petroleum products here on the Croatian market.

The Croatian agency for the protection of market tenders (AZTN) approved the concentration of Petrol over part of Crodux Plina’s (Crodux Gas) business last year, since Petrol’s market share on the Croatian market for liquefied petroleum gas (LPG) does not exceed twenty percent after the acquisition.

The aforementioned Croatian agency also previously allowed part of the acquisition of control of Petrol over a portion of Crodux Gas’s electricity-related business.

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