marks the transfer of the PETROLINA OVERSEAS shares to EKO and the incorporation of PETROLINA and EKOLINA into the company’s subsidiaries.
In April 1998, DEP is renamed HELLENIC PETROLEUM S.A., it absorbs ΕΚΟ-HELLENIC REFINERIES & CHEMICALS OF MACEDONIA AΒΕΕ, the industrial sector of ΕΚΟ ΑΒΕΕ, ELDA S.A. (Greek Refineries Aspropyrgos S.A.), and DEP-EKY.
The commercial sector of EKO ABEE and ELDA-E are merged and absorbed by the EKO-ELDA ABEE, a subsidiary of HELLENIC PETROLEUM S.A. and now form a single commercial company. Thus, the new commercial company the largest Greek petroleum marketing company and significantly strengthens the regulatory role that it will continue to exercise for the consumer’s benefit.
The acquisition of G. MAMIDAKIS & CO. AEEP by EKO-ELDA in November 1998, constitutes an act of strategic importance, since the acquisition of the six facilities and approximately 470 petrol stations significantly strengthens the company against the competition.