Cepsa, with a 12% market share, only behind Repsol (25%), has announced the purchase of the Spanish leader in low-cost petrol stations, Ballenoil (with sales of 470 million in 2022 vs. 300 million in 2021) for an undisclosed amount, which investment analysts estimate at around 300 million. Cepsa, the energy company controlled by Mubadala and Carlyle, will thus exceed 2,000 petrol stations on the Iberian Peninsula, more than 1,500 in Spain, behind only Repsol, which has more than 3,300.
Cepsa indicated that it will maintain the Ballenoil brand, as well as its business model and current structure, to consolidate its position in the ‘low cost’ segment, which includes some 5,900 petrol stations in Spain.
