Olerex parent company continues Latvia expansion
The Estonian parent company of fuel retailer Olerex is continuing to expand in the market South of the border, in Latvia.
In 2021, Aqua Marina AS, a holding company which owns AS Olerex and AS Olerex Terminal, acquired Latvian gas station chain Kool, and with it 10 point-of-sale sites in and near Riga, in Jelgava and in Valmiera.
Now, Latvia's Competition Authority, the KP, has given the go-ahead for Aqua Marina to purchase another Latvian fuel retailer, Latvijas Nafta.
The KP considered that this transaction will not harm competitiveness in the market, save for one town, Rujiena, a town of about 3,000 people in Northwestern Latvia and just a few kilometers from the Estonian border, meaning Aqua Marina has abandoned plans to purchase a gas station in that locality.
Aqua Marina was founded in 1990 and is Estonian-owned.
Olerex operates close to a hundred gas stations in Estonia itself.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Andrew Whyte
