The Bulgarian Commission on Protection of Competition has received a notification from local company Uni Energy requesting approval to acquire NIS Petrol Bulgaria.
Uni Energy is a Bulgarian fuel retailer owned by Ivaylo Konstantinov. The company collaborates with the Swiss group Avia International and TTN Commerce through Avia Bulgaria. By the end of 2024, Uni Energy operated eight of the 13 Avia-branded petrol stations in the country. If the transaction is completed, the Gazprom-branded stations would be rebranded under the Avia network, increasing the total number of Avia stations in Bulgaria to more than 30.
NIS, which currently operates 23 petrol stations in Bulgaria, announced at the end of July that its board had approved the sale of its wholly owned subsidiary NIS Petrol Bulgaria following prolonged operational challenges in the market. Earlier this year, NIS also indicated it was considering exiting Bulgaria and Romania, where it runs 19 stations. Media reports noted that Srbijagas had also expressed interest in the Bulgarian unit. The reports further indicated that NIS had been in discussions with Uni Energy, while other potential buyers at earlier stages included EKO Bulgaria through its Greek parent company, a Greek investor backed by Motor Oil Hellas, and Bulgarian wholesaler GTA Petroleum.
The Bulgarian package for sale includes 23 Gazprom-branded petrol stations, a fuel storage facility in Kostinbrod, and 12 plots of land. NIS Petrol is the seventh-largest retail fuel network in Bulgaria by revenue, recording a turnover of just over 75 million euros in 2023, down 31.4% year-on-year, with losses reported in recent years. The sale process began in autumn 2023, with indicative valuations reported at over 30 million euros.
