The Prax Group has announced that it has signed a Sales and Purchase Agreement (SPA) to acquire, from Mabanaft Gmbh & Co KG, 100% of the share capital of OIL! Tankstellen Gmbh, with the deal subject to the necessary conditions of the sale being met. The acquisition of the Hamburg-based petrol retail business will result in the Prax Group’s entrance into four new retail markets including Germany, Austria, Denmark and Switzerland.
With a proven track record of integrating acquisitions and managing strategically important assets across the oil value chain, from upstream to downstream, the Prax Group is currently the fifth largest independent forecourt retailer in the United Kingdom selling fuel and non-fuel convenience products and services. The Transaction expands the Group’s petrol retail portfolio to approximately 540 sites in Europe.
