Spain: Kuwait Petroleum Closes Biggest Acquisition in 15 Years

Source Press
Company Kuwait Petroleum Corporation 
Tags Asset Deals, Deals, Refining & Marketing Activities
Date May 22, 2019

() The Q8 network will add Saras’ 96 gas stations spread across the Spanish territory.

Kuwait Petroleum, owner of the Q8 network, has finalized the largest acquisition in Spain’s petrol station market for the last 15 years. The Gulf oil company has purchasedSaras’ network of 96 sites in Spain.

Italian energy firm Saras exits Spain’s public fuel retailing sector but will remain involved in wholesale and storage.

With this acquisition, Q8 expands its network from 18 service stations to 114 sites in Spain, becoming the ninth largest operator in the market, according to El Economista. The deal still need to get regulatory approval.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd