Cepsa, Spain’s second largest oil company, is in advanced negotiations for the acquisition of Ballenoil, the Spanish leader in the low-cost petrol station segment, with more than 200 fully automated service stations at present, according to EXPANSIÓN newspaper.
The transaction, which could be worth between €200 and €300 million, takes place in the midst of rising fuel prices, a situation that has boosted the business of this type of establishment.
Cepsa, controlled by Mubadala and Carlyle, has 13% of the petrol stations in Spain. Its network of just over 1,500 establishments on the peninsula is the second largest service station infrastructure in the country, after that of Repsol, which has more than 3,300 establishments. In recent years, it has bought some petrol stations, but only very occasionally, to complete its network in some regions. In no case of the size of Ballenoil, which would currently be the leading low-cost petrol station operator in Spain.
