The purchase from OMV BH d.o.o., a unit of the Austrian refiner, “represents a step in the strategy of NIS’s regional development” that includes the expansion of retailing in the Balkans, the Novi Sad, Serbia-based company said in an e-mailed statement. It didn’t disclose the purchase price.
The transaction, pending regulatory approval, will allow NIS to expand sales of motor fuels as it tries to increase its presence in neighboring markets including Bulgaria and Romania, the company said.
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