PetroPlaza has reported that Topaz is planning an investment program which includes the rebranding of around 350 of its filling stations for approximately E15 million.
Topaz pays Shell and Statoil for brand and naming rights and expects to save money with the rebranding process, reports PpetroPlaza.
PetroPlaza noted that Topaz acquired Shell’s retail and commercial fuels business in Ireland for E180 million in 2005 and paid E280 million for Statoil’s assets in 2006. Topaz Energy is owned by private equity firm Ion Equity.
