Acquisition of Maxen stations marks strategic exit for Mercator.
Sunqar Resources, a company based in the United Arab Emirates, has entered Slovenia’s fuel retail market following its acquisition of Maxen self-service filling stations from retailer Mercator. The transaction closed on January 5, with Mercator transferring ownership of M Energija, the unit operating the Maxen network, to Sunqar Resources.
Mercator, part of the Fortenova Group, did not disclose the value of the deal, stating only that the sale aligns with its strategy to focus on core retail operations. M Energija represented less than 1% of Mercator’s total revenue, according to The Slovenia Times.
The acquisition includes 21 fully automated Maxen self-service fuel stations across the country, all of which are now fully owned by Sunqar Resources. According to company information, Sunqar Resources FZ-LLC is active in the wholesale trading of petroleum products, including liquefied petroleum gas, serving fuel retailers across Eastern Europe, the Baltic states, and Central Asia.
Financial data shows M Energija posted revenue of €13 million in 2024, up 3% year on year, while posting a net loss of €710,000. Despite the losses, the Maxen network ranked as Slovenia’s fourth-largest fuel retailer, with a market share of around 4%, according to Forbes Slovenija.