Application filed with the Competition Authority: Fuel giant is being sold
Following the sale of oil giant BP's 770 fuel stations and licensing rights in Turkey—where it has operated for over 100 years—to Petrol Ofisi, Zeren Group has applied to the Competition Authority to acquire all of Alpet.
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Following the announcement that Petrol Ofisi had signed a share purchase agreement to acquire BP's fuel operations in Turkey, another acquisition news has emerged from the fuel sector.
According to the report in Ekonomim, Zeren Group, which entered the banking sector by acquiring T-Bank, has applied to the Competition Authority to purchase Alpet, which belongs to Altınbaş Holding.
IT HAS 250 STATIONS
In the statement made on the institution's official website, it was announced that the process for the acquisition of the entirety of Altınbaş Petrol ve Ticaret Anonim Şirketi by Zeren Group Yatırım Holding Anonim Şirketi has begun.
If the Competition Authority grants approval, Zeren Group will take over the entirety of Alpet, which has 250 stations.