Fortenova Group has continued divesting assets inherited from the former Agrokor. According to Slovenian media, the latest transaction involves 21 self-service Maxen petrol stations operated by M-Energija, a company within the Mercator retail network.
With this portfolio, M-Energija becomes the fourth largest operator of petrol stations in Slovenia, following Petrol, MOL, and Shell Adria. Slovenia currently has a total of 527 stations. Initial reports suggested that Hungarian energy group MOL would be the likely buyer, but recent information indicates that the stations are being acquired by a regional entrepreneur, most likely based in Croatia. Fortenova representatives confirmed that the sale is ongoing, noting that the stations make up a very small portion of Mercator’s business, accounting for less than one percent of total operations. The divestment aligns with Fortenova’s strategy of focusing on core retail activities. Two companies are conducting due diligence, with the outcome expected to be announced in due course.
MOL, already a major player in Slovenia, operates more than 130 petrol stations. The company entered the Slovenian market in 2002 by acquiring over 130 OMV stations and later sold 39 to Shell Adria due to antitrust requirements. Together with INA, MOL is currently the only operator of self-service stations in Slovenia aside from Mercator’s Maxen network. At the end of last year, MOL and INA jointly took over and rebranded 12 former Hofer self-service stations under the Ina Pay&Go name.
Mercator first entered the fuel retail sector in 2011, following a European trend of integrating self-service stations with supermarket chains. The retailer acquired En Plus and later transferred operations to M-Energija. While revenues initially grew, they declined sharply after 2020. M-Energija has posted losses for most of its existence, including the past three consecutive years. In 2024, the company reported revenues of 13 million euros but ended with a net loss of 709,000 euros.
