Suncar Resources, a company based in the UAE, has entered the fuel retail market in Slovenia by acquiring the self-service fuel station network “Maxin” from the local retailer “Mercator.”
The agreement was officially completed on January 5, with Mercator, a subsidiary of the Fortenova Group, transferring ownership of the M Energija unit, which operates the Maxin network, to Suncar Resources.
Although the financial details of the transaction have not been disclosed, Mercator indicated that the sale aligns with its strategy to focus on core retail operations.
The acquired network consists of 21 fully self-service fuel stations located throughout Slovenia, accounting for approximately 4% of the country’s fuel market share, as reported by Forbes Slovenija.
In 2024, M Energija recorded revenues of €13 million, reflecting a 3% increase compared to the previous year; however, it also reported a net loss of €710,000.
Suncar Resources is engaged in the wholesale trade of petroleum products, including liquefied petroleum gas, serving fuel traders across Eastern Europe, the Baltic states, and Central Asia, showcasing its ambition to enhance its regional presence through this acquisition.