NIS Petrol Bulgaria

Serbian Oil Industry NIS to sell Bulgarian subsidiary amid market challenges

Serbian Oil Industry (NIS), controlled by Russia, has decided to sell its subsidiary NIS Petrol Bulgaria due to business challenges in the Bulgarian market. NIS Petrol operates 22 gas stations in Bulgaria and held a 2.6% share of the motor fuel market in the first half of the year. The NIS Board has approved the sale of its entire stake in the subsidiary. Details of the transaction will be announced once finalized. The company has also initiated a process to…