Deal adds to Enilive’s roughly 5,300-station European network
Italian energy company Eni has reached a binding agreement to buy OIL! Tankstellen, a fuel service station business operating in Germany, Denmark, Austria and Switzerland, from Prax, the companies announced. Financial terms were not disclosed.
The acquisition is being conducted through Enilive, Eni’s mobility subsidiary co-owned with KKR, which holds a 30% stake. Enilive already operates about 5,300 service stations across Europe. The addition of roughly 320 OIL! locations expands the unit’s retail presence in four central European markets.
The transaction remains subject to regulatory approvals. The companies did not disclose a purchase price or a projected timeline for closing.