The Greek company Coral announced that it has concluded an agreement to take over a 75 percent stake in Apios, a Croatian oil distributor that has 26 gas stations and whose brand will be replaced by the Shell brand.
Apios was founded in 2009, has a share of about three percent in the Croatian market, has 26 gas stations and has a large engagement in the wholesale of petroleum products.
With the acquisition of Apios, it will change its name to Coral Croatia, while the Apios brand will be replaced by the Shell brand, one of the world’s leading brands, it was pointed out.
Coral was founded in 1926 under the name Shell Hellas, and received the name Coral in 2010, when it was taken over by one of the largest Greek business groups, Motor Oil Hellas. With about 700 Shell gas stations in Greece, Coral is the leader in the Greek oil distribution market. The backbone of Coral’s business is wholesale and retail of a wide range of petroleum products for customers in the industrial, commercial and transportation sectors.
