Coral A.E., a leading oil company in Greece, completes the agreement for its participation in APIOS d.o.o.
Zagreb, January 19, 2021
Coral A.E. announces the completion of the agreement for its participation in the activities of APIOS d.o.o. in Croatia, acquiring 75% of its shares.
Coral operates in the Greek oil market since 1926. It was the former Shell Hellas A.E. that was renamed in July 2010 after its acquisition by Motor Oil Hellas S.A. With approximately 700 retail stations operating under the Shell brand in Greece, Coral is the leader in the petroleum market.
Its main activities involve wholesale and retail sales of a wide range of oil products, with customers in the industrial, commercial and shipping sectors.
APIOS d.o.o. was established in 2009 and is active in the retail and wholesale trade of liquid fuels in Croatia. It has 26 gas stations with a market share of approximately 3%.
Upon completion of the agreement, the company will be renamed Coral CROATIA d.o.o..
Under the agreement, Coral has entered into a long-term trademark license agreement with Shell Brands International B.V. for the use of the Shell brand in the Croatian market. This will include the use of the Shell brand in retail stations but also in the commercial fuels business.
With this acquisition, Coral A.E. further strengthens its position in South East Europe by operating Shell-branded service stations in the growing Croatian market.