MOL signs a purchase agreement to buy 15% of Waberer’s

MOL has signed an agreement with Indotek Group to purchase a 15% stake in Waberer’s. At the same time as the transaction, MOL and Waberer’s signed a strategic cooperation agreement to strengthen their business cooperation in the areas of complex logistics services, alternative fuels, energy efficiency developments and green energy transition. The strategic agreement between the two companies supports MOL Group’s long-term sustainability objectives.

In recent years, MOL and Waberer’s have established a close relationship in the field of complex logistics services and fuel sales. This strategic agreement will further strengthen the traditional business activities of the two companies and enable them to jointly implement mobility, sustainability, and energy efficiency projects. During the cooperation, special attention will also be paid to the sale of fuels and lubricants, the development of alternative fuels, the exchange of knowledge on energy efficiency, and the establishment of special filling and service points.

MOL’s goal is to successfully implement joint projects with Hungary market-leading complex logistics service providers that contribute to the implementation of the company’s shape tomorrow 2030+ strategy. The objective of the strategy is to become a key player in MOL’s low-carbon circular economy in Central and Eastern Europe and to supply the mobility sector with low-carbon fuels.

Zsolt Barna, Chairman and CEO of Waberer’s International Plc. said at the signing of the cooperation agreement that “The strategic agreement concluded with MOL Group is a confirmation of a nearly twenty-year-old partnership, which can take the relationship between the two companies to a new level by maximally committing themselves to the application of sustainability solutions. I am convinced that this cooperation can make us more successful both in Hungary and in the region.”

The above move is in line with Waberer’s strategy to become number one complex logistics provider in Central and Eastern Europe by 2027.

The two large companies listed on the Hungarian stock exchange are currently cooperating in several areas: Waberer’s provides complex logistics services to MOL at several locations, while the Hungarian oil company sells fuel and lubricants to Waberer’s, among others, making it a strategic supplier both in international transport and domestic distribution activities. Waberer’s Group, as Hungary market-leading complex logistics service provider, has been assisting the domestic oil company with various services since 2006, including at the Danube Refinery in Százhalombatta, where it operates three major warehouses, and also participates in the logistics service of the Slovnaft refinery in Bratislava, which belongs to the MOL Group. Further expanding the cooperation, from October this year Waberer’s subsidiary also provides production logistics services for MPK MOL Petrochemicals in Tiszaújváros.

Source: Waberer’s