(fixes typo in slug)
Italian petroleum group Anonima
Petroli Italiana (API) on Friday bought 100% of petrol-station
company TotalErg per 273 million euros, taking over 2,600
service stations as well as the logistics hub in Rome and a
refinery at Trecate near Novara.
API said it had this raised the number of its outlets to
5,000 all over Italy with an aggregate turnover of around six
billion euros.
API, founded in the Marche port city of Ancona in 1933, is a
provider of crude oil for the petrochemical industry and a
distributor of petroleum products.
It is the most important subsidiary of the holding company
Gruppo api (api Group), which also includes api Raffineria di
Ancona SpA, api Energia SpA, Festival SpA, apioil Ltd, api GmbH
and api Services Ltd.
It is headquartered in Rome.
TotalErg was formed by the merger of ERG and TotalErg Italia
in 2010.
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