Mubasher: Kuwait Petroleum International (KPI), also known as Q8, has announced the acquisition of 75 service stations from units of Belgium’s Uhoda Group.
Following the deal, the number of stations owned by the Kuwaiti company in Belgium was increased by 15%, according to a company statement released on Thursday.
The transaction will boost Q8’s position and optimise its national coverage, the energy company said.
"Thanks to this acquisition, we have optimised the geographical spread of our offer. So these 75 extra stations are perfectly complementing our existing network, which is now expanding by one-sixth," said KPI managing director for Northwest Europe, Fadel Al-Faraj, commented.
The newly acquired stations are located in Liege and Limburg provinces in eastern Belgium.
"I am very proud of this tremendous achievement. The acquisition of 75 stations in Belgium by our colleagues from Q8 Northwest Europe is the largest in 15 years,” KPI’s executive vice president for marketing, Azzam Al Muttawa, remarked.
