Following the E3 acquisition, Petrol would control 20% of Slovenia’s electricity retail market.

Petrol published a short notice on the Ljubljana Stock Exchange announcing that the company has been selected as the most favorable bidder for the purchase of E3 and proceeds with negotiations for the above-mentioned purchase. E3 is a unit of Elektro Primorska, Slovenian state-controlled electricity distribution company.

At the end of 2018, the company recorded total assets of EUR 37.2m, sales of EUR 85.22m and a net profit of EUR 0.47m.

According to the media, the mentioned deal is expected to be worth roughly EUR 15m.

The sale and purchase agreement is expected to be signed by the end of the month. Following the E3 acquisition, Petrol would control 20% of Slovenia’s electricity retail market.