Petrolina (Holdings) Public Limited completed the acquisition of ExxonMobil Cyprus Limited for €45.1 million on 31 January 2026, the company announced.
Petrolina’s fully-owned subsidiary Med Energywise Ltd acquired 100% of ExxonMobil Cyprus Limited’s share capital. The total consideration paid reached €45.1 million after finalisation of completion adjustments provided for in the acquisition agreement dated 27 November 2024.
Following the ownership change and integration into the Petrolina Group, ExxonMobil Cyprus Limited will be renamed eWise Cyprus Ltd after completion of legal procedures.
Dinos Lefkaritis, chief executive of Petrolina (Holdings) Public Limited, said he was proud of strengthening the Petrolina Group with the addition of such a significant brand.
The group aims to further exploit the brand’s long-term commercial presence and legacy through securing a licence to use ESSO trademarks in the Cyprus market, ensuring continuity of petrol station operations under the brand, he said.
Lefkaritis thanked all who contributed to achieving the strategic goal and thanked Eurobank for financing the transaction, which represents a significant development for Cyprus.