July 31, 2014
OJSC "LUKOIL" and the Austrian company AMIC Energy Management GmbH (AMIC) have reached a principle agreement for the sale of 100% equity of FDI "LUKOIL-Ukraine" which holds around 240 filling stations and 6 bulk plants on the territory of Ukraine. This information is stated in a press release on the official company website.
The Austrian party was the initiator of the negotiations for the acquisition of assets. Currently a comprehensive verification of assets is being carried out and a sales contract is being prepared for signing.
According to Vadim Vorobyov, the Vice-President of OJSC "LUKOIL", by selling the network of filling stations and bulk plants in Ukraine to AMIC LUKOIL will optimize the structure of assets and distribution network management system in Eastern Europe, which is very important to improve business performance of LUKOIL in sales of petroleum products. The transaction amount is undisclosed.
Enterprise with foreign investments "LUKOIL-Ukraine" was established in November 1999 and is currently one of the five leaders of the fuel market by the number of filling stations and the volume of retail sales. At the beginning of April 2014 the assets of "LUKOIL-Ukraine" included 7 bulk plants and 1 gas filling station, a network of filling complexes. "LUKOIL" retail network numbers 249 filling stations in 24 regions of Ukraine, the filling complex on water (Kiev) and 67 gas modules.