Energy
Little-Known Turkish Firm Builds Gas Station Bet As Majors Quit
- Zeren Group bought two fuel-retail companies within months
- BP, TotalEnergies have sold stakes in tightly regulated market
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A little-known Turkish holding company completed its second acquisition of a fuel retailer within months, extending a push by independent firms into a tightly regulated market that oil majors BP Plc and TotalEnergies SE have left.
Istanbul-based Zeren Group, which was all but unknown to the public until this year, received antitrust approval to buy Turkey’s TP Petrol Dagitim AS on Tuesday, following its acquisition of a smaller retailer, Alpet, in February.