The Slovenia Times

Takeover of Croatian Crodux gas segment given go-ahead

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According to the AZTN, the takeover will affect retail sales to smaller industrial and business customers, while it will also affect the wholesale market in Croatia. Also, Geoplin's increased market share will strengthen the competitiveness of the Croatian energy market.

Petrol already acquired the LNG segment of Crodux in September, while acquisition of the Croatian company's electricity division is expected around the New Year.

Crodux, owned by retired Croatian general Ivan ńĆermak, acquired last year Croatian gas distributor Zagorski Metalac, the seventh largest gas distributor in Croatia with around 18,000 clients and a 828 km gas network at the time.

According to the company's representatives, Crodux, which bought 63 petrol stations in Croatia from Austria's OMV six years ago in a deal that had also been sought by Petrol, plans to focus on its crude oil and gas condensate business and on expanding its petrol station network.

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