Smart Diesel operates 36 filling stations in Romania and its SD fuel card is accepted in over 1,800 filling stations abroad.
The transaction is pending approval by Romania’s Competition Council. Both parties have agreed to not disclose additional details about the transaction.
Law firm Radu si Asociatii has provided legal assistance to the two Romanian entrepreneurs. Radu si Asociatii SPRL is a member of the companies part of Ernst & Young Global Ltd Group and is part of EY Law global network.
Smart Diesel business was designed mostly to serve commercial customers and has a gas station network in Romania and partnerships abroad, in several countries.
Smart Diesel reported a turnover of over RON1.53 billion (EUR324.1 million) in 2019, up 14.5% on the year, and a net profit of nearly RON32 million (EUR6.6 million), up 17% on the year.