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ELPE merger with Petrola approved

08. July 2011. | 09:53

Source: ANA

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.

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.

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