Key Takeaways:
- Eni's Enilive unit agreed to acquire about 320 fuel stations from Prax Ltd.
- The deal covers OIL! Tankstellen GmbH operations in four European countries.
- Financial terms were not disclosed; completion requires regulatory approvals.
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Eni to acquire 320 fuel stations from Prax in European expansion push
Eni SpA, through its Enilive subsidiary co-owned with KKR, agreed to acquire about 320 fuel service stations from Prax Ltd., expanding its European retail network to roughly 5,620 locations across the continent.
The deal, announced Thursday, covers 100% of OIL! Tankstellen GmbH, which operates stations in Germany, Denmark, Austria and Switzerland. Financial terms were not disclosed. Enilive Deutschland GmbH will absorb the network and progressively rebrand the sites under its own banner.
"Integrating OIL!'s network strengthens our presence in key European markets and accelerates our mobility offering," a representative for Enilive said. The acquisition adds a Danish footprint to Enilive's existing operations, which span more than 5,300 stations across Europe.
Enilive, in which KKR holds a 30% stake, has been expanding its lower-emission fuel offerings alongside traditional fuels. The company's HVO diesel, produced from 100% renewable feedstocks at its biorefineries in Venice and Gela, is currently available at about 1,700 stations across Europe. The network also includes fast and ultra-fast electric vehicle charging points developed with Plenitude On The Road, a Plenitude-controlled entity, and the Enilive Café convenience format, present in more than 1,200 locations — over 330 of them in Germany.
The acquisition comes as European oil majors increasingly pivot toward retail and mobility services to capture recurring revenue from fuel, charging and convenience sales. Eni's expansion through Enilive mirrors a broader industry push by integrated energy companies to lock in downstream customers as the transport sector transitions toward lower-carbon alternatives.
Completion is subject to customary regulatory approvals. The companies did not provide an expected closing date.
This article is for informational purposes only and does not constitute investment advice.
