OSLO, April 1 Finnish fuel retailer St1 Oy said
on Wednesday that it had agreed to buy 198 unmanned filling
stations in Sweden and Norway from Norwegian oil and gas
producer StatoilHydro (STL.OL).
The deal, whose value was not revealed, envisages St1
purchasing 158 fuel distribution stations in Sweden, including
118 Hydro/Uno-X brand stations and 40 Jet-brand stations, as
well as a further 40 Jet stations in Norway.
"The fuel distribution stations acquired in the Oslo region
mark an important bridgehead for St1 on the Norwegian fuel
market," St1 said in a statement. "The company is exploring
potential for expansion in Norway."
St1 said the stations were well suited for its "practice of
cost-efficient remote operations" and would up its fuels market
share to 8 percent in Sweden and just under 5 percent in Norway.
"Also, the net sales of the St1 Group will increase to about
1.5 billion euros ($1.98 billion)," it said.
(Reporting by Wojciech Moskwa and Joergen Frich)