* Hellenic Petroleum buys BP gas stations, oil storage tanks
* Deal is worth 359 million euros, including debt
* Deal excludes BP jet fuel, lubricants, solar businesses
* Hellenic to finance deal through bank loan (Adds financing detail, Hellenic withdraws interest for Shell's Greek assets)
By Harry Papachristou
ATHENS, June 26 (Reuters) - Hellenic Petroleum, Greece's biggest refiner, is set to bolster its leadership in the country's retail market after agreeing to buy petrol and storage assets from BP Plc for 359 million euros ($500 million).
The deal, which includes net debt of 40 million euros, gives Hellenic control over BP's 1,200 gas stations and oil storage facilities with a capacity of 170,000 cubic metres.
This would create a clear market leader in the fragmented retail fuel market, which consists of 21 companies, with none having a market share above 20 percent, according to figures by research institute IOVE.
Hellenic chairman Efthymios Christodoulou said the deal would also generate significant synergies. "We have already secured financing through a bank loan," another company official told Reuters on condition of anonymity.
Hellenic's EKO unit is already market leader in Greece with a network of about 1,230 gas stations representing about 17 percent of the Greek market.
Greece's overcrowded fuel retail market is heading for further consolidation. Royal Dutch Shell, which controls about 13 percent, is also considering selling its gas station network in the country.
Hellenic Petroleum and Motor Oil, Greece's second-biggest refiner, both expressed interest in Shell's assets last month. "After the BP deal, we're no longer interested in Shell," the Hellenic Petrol official said.
Under the deal with Hellenic, none of BP's about 400 workers in Greece will lose their jobs. BP will keep control of its jet fuel, lubricants and solar energy activities in the country.
The deal, which is subject to regulatory approval and other conditions, is expected to be completed towards the end of the year, BP said in a separate statement.
(Reporting by Harry Papachristou; Editing by David Cowell, John Stonestreet)