LUKOIL sells 230 petrol stations in Lithuania, Latvia and Poland

LUKOIL sells 230 petrol stations in Lithuania, Latvia and Poland

MOSCOW, 5 February. LUKOIL Europe Holdings BV (a subsidiary of LUKOIL) and Austrian AMIC Energy Management GmbH signed a contract for the sale of approximately 230 petrol stations in Lithuania, Latvia and Poland. This was reported by “LUKOIL”.

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The deal will be closed in the second quarter of 2016 after consultation with the regulatory authorities of Lithuania, Latvia and Poland.

“The decision to sell the retail chain in Lithuania, Latvia, and Poland adopted the programme to optimise the structure of the retail assets of “LUKOIL” in Europe”, – stated in the message of the company.

Under the agreement, management of chains of filling stations in Lithuania and Latvia will be carried out by companies Luktarna UAB and AS VIADA Baltija, affiliated with the management of UAB Lukoil Baltija.

Earlier it was reported that “LUKOIL” decided to sell its assets in Lithuania and Latvia. This decision of the President of the company Vagit Alekperov explained the increased in these countries, anti-Russian sentiments.

He stressed that the strategy of “LUKOIL” does not imply expansion in Europe in the coming years.

In the summer of 2015 Estonian fuel company Olerex acquired 100% of shares in the subsidiary of “LUKOIL” in Estonia Lukoil Eesti AS, which owns 37 stations.

“Daughter” of “LUKOIL” in the Netherlands, Lukoil Europe Holdings owns 100% shares of Lukoil Baltija, which owns a network of filling stations in Latvia and Lithuania.