Proud to strengthen the Petrolina Group with the addition of such an important brand, says Dinos Lefkaritis , Executive Managing Director (CEO) of Petrolina (Holdings) Public Limited, following the completion of the acquisition of the entire (100%) share capital of ExxonMobil Cyprus Limited by Petrolina's wholly owned subsidiary, Med Energywise Ltd.
As he noted, the Group aims to further leverage the long-standing commercial presence and heritage of the brand, through securing a license to use the ESSO brands in the Cyprus market, ensuring the continuity of the operation of the gas stations under the said brand.
Lefkaritis also thanked everyone who contributed to the achievement of this strategic goal, as well as Eurobank for financing the transaction, which is a significant development for Cypriot standards.
It is recalled that Petrolina (Holdings) Public Limited announced that on 31.01.2026 the acquisition of the entire (100%) share capital of ExxonMobil Cyprus Limited by its wholly owned subsidiary, Med Energywise Ltd. The total consideration paid for the acquisition amounts to €45.1 million, after the finalisation of the anticipated completion adjustments, based on the Acquisition Agreement dated 27.11.2024.
Following the change in ownership and its integration into the Petrolina Group, ExxonMobil Cyprus Limited will be renamed eWise Cyprus Ltd, following the completion of the relevant procedures required by law.
Also read: Petrolina completes €45.1m acquisition of ExxonMobil Cyprus, renames it eWise Cyprus Ltd
(Source: InBusinessNews)
