Prista Oil, Bulgaria’s biggest producer of brake-fluid and motor oil, has bought Prague-based Chevron, Czech Republic.
The deal is in line with Prista Oil’s strategy to expand in Central and Eastern Europe, the Bulgarian company said in a press release.
Under the terms of the deal Prista Oil will continue to develop the Texaco brand in the next five years.
In November 2011 Prista Oil Group BV bought Chevron Corp’s stake in a blending plant in Uzbekistan.
Prista Oil bought Chevron’s 50.1% stake in Uz-Texaco, a Fergana, Uzbekistan-based blending joint venture with state-owned Uzbekneftgaz.
Prista Oil has two blending factories in Bulgaria, one in Hungary and another in Turkey.