ELPE & Petrola Merger Approved

    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)