As per a November 2016 announcement regarding a pending acquisition, Motor Oil (Hellas) Corinth Refineries S.A. recently confirmed that its wholly owned subsidiary, Coral A.E., purchased 100 percent of the shares for Lukoil Cyprus Limited.
 
The sale became effective as of Jan. 3, the Motor Oil Hellas (MOH) board of directors announced from its administrative headquarters in Maroussi, an suburb of Athens.
 
Lukoil Cyprus Limited comprises a conglomerate of 31 retail service stations throughout Cyprus. Its parent company, Lukoil Europe Holdings B.V., is registered in Amsterdam, the Netherlands.
 
Motor Oil Hellas is dedicated to leading the petroleum refining industry, delivering dependable and inexpensive energy to major marketers both throughout Greece and elsewhere. Capable of producing a wide variety of petroleum products with manufacturing approved by international specifications entities, the company operates with a high degree of quality control as one of only a few European refineries holding three certifications.
 
MOH’s main refinery is situated about 70 kilometers away from Athens in Agii Theodori, in the province of Corinth; while its business headquarters are located in Maroussi. It is listed on the Athens Exchange and prides itself on being a reliable supporter of the domestic economy.