Statoil acquires full ownership of service stations chain
May 28, 2004 02:00 AM
The Norwegian oil company Statoil announced on 28 May that it had agreed to acquire the Swedish retail chain ICA's 50
% share of the jointly-owned service stations chain Statoil Detaljhandel Skandinavia.
“This agreement represents an important step forward in strengthening our position in the downstream
market,” said Erling Overland, acting CEO of Statoil. “It will provide for a uniform structure and
further development of our retailing activities in Scandinavia, Poland, Ireland, Russia and the Baltic states,”
Overland added.
The Statoil service stations chain operates some 1,400 service stations in Scandinavia.
Source: Nordic Business Report
