Prio Expands with Acquisition of 55 Petrol Stations
Deal News | Feb 07, 2025 | Iberian Lawyer
Abreu Advogados and Morais Leitão have been key legal advisors in Prio's acquisition of 55 petrol stations from the Vapo Group. Prio, a major player in Portugal's fuel retail market, will now operate over 300 service stations across the country. This expansion will lead to a 15% increase in fuel sales and a 10% boost in biofuel production in Portugal. Abreu Advogados, representing Prio, conducted due diligence, negotiated the terms, and coordinated with the Competition Authority. Their team was spearheaded by partners Alexandra Courela and António Pina. Meanwhile, Morais Leitão, representing the Vapo Group, assisted in negotiations and execution via their corporate and M&A expertise led by Bernardo Lobo Xavier and his team.
Sectors
- Energy
- Legal Services
- Mergers & Acquisitions
Geography
- Portugal – The transaction and both involved companies are based in Portugal.
Industry
- Energy – The acquisition involves petrol stations, a key aspect of the energy and fuel retail sector.
- Legal Services – Involvement of law firms Abreu Advogados and Morais Leitão highlights the legal advisory industry’s role in facilitating M&A transactions.
- Mergers & Acquisitions – The transaction between Prio and the Vapo Group is a typical M&A deal involving substantial asset acquisition.
Financials
- Not Specified – The financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Prio | Buyer | Company | A major fuel retailer in Portugal, expanding its operations through acquisition. |
| Vapo Group | Vendor | Company | Managed the Q8 petrol stations in Portugal, selling 55 of them to Prio. |
| Abreu Advogados | Legal Advisor to Buyer | Company | Provided legal services to Prio for the acquisition of petrol stations. |
| Morais Leitão | Legal Advisor to Vendor | Company | Advised the Vapo Group on the sale of petrol stations to Prio. |
| Alexandra Courela | Partner | Person | Partner at Abreu Advogados leading the legal team for this acquisition. |
| António Pina | Partner | Person | Partner at Abreu Advogados assisting with legal processes for the deal. |
| Bernardo Lobo Xavier | Partner | Person | Partner at Morais Leitão heading the advisory for Vapo Group. |