June 1994

Takeover of FINA's Network of 12 Stations in Northern Germany

At the beginning of the month, Marquard & Bahls takes control of FINA's network of 12 stations in Northern Germany. By the late 1980s, Mabanaft has once again begun to take an active interest in service stations. Mabanaft seeks to establish a firm foothold in the gasoline business, either by securing supply contracts with independent service station operators or by buying its own stations. The FINA deal is another step in this direction. The takeover expands its network to 29 service stations.

Marquard & Bahls has set up a separate subsidiary for the service-station business, and on January 1, 1994, Mabanaft's service-station business is transferred to MHK GmbH. A contract between Mabanaft and MHK serves to secure supplies. At the beginning of 1995, MHK’s organization is focused in Hamburg. In future, it is planned to intensify the company’s involvement in service stations. Marquard & Bahls earmarks funds of up to DM 60 million to be invested for this purpose.