The Prax Group to acquire OIL! Tankstellen From Mabanaft.

The Prax Group, a British multinational independent refining, storage, distribution and sales conglomerate dealing in crude oil, petroleum products and bio-fuels, agreed to acquire OIL! Tankstellen, a company that operates gas stations, From Mabanaft, an independent and integrated energy company. Financial terms were not disclosed. “The signing of this agreement marks our latest expansion into the North-West Europe market and signal’s the Group’s intent to further advance its plans as a leading, sustainable and geographically diverse integrated energy business. The strategic acquisition of OIL! Tankstellen will unlock new opportunities, while reaffirming our ongoing commitment to building a solid and transformative supply chain to meet the needs of our customers for many years to come,” Sanjeev Kumar Soosaipillai, Prax Group Chairman and CEO.