The merger of Hellenic Petroleum S.A. (ELPE) and Hellenic Petroleum Company-Petrola S.A. was approved by the Regional Development, Competitiveness and Shipping Ministry on Thursday, to be effected with the absorption of Petrola by ELPE.
Petrola is a wholly owned subsidiary of the Athens-listed ELPE.
ELPE controls three of the country’s four refineries, in Aspropyrgos, Elefsina and Thessaloniki, and more than 60 percent of the market.
(source: ana-mpa)
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