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Tatneft buys Neste’s entire business in Russia

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Tatneft buys Neste’s entire business in Russia
July 05
09:00 2019

The Finnish Neste is going to sell its business to Tatneft. It is about a network of 75 gas stations and a terminal located in St. Petersburg.

The sale agreement has already been signed. It is expected that the transaction will be closed before the end of this year.

According to Nail Maganov, the head of “Tatneft” the purchase of a retail fuel network confirms the need to develop business in the North-West direction. Due to the purchase, Tatneft will be able to sell about 50% of its own fuel at the domestic market.

The companies have concluded a separate agreement and stipulated conditions for the use of the brand. During 5 years since entering into agreement, the network sold to Tatneft will operate under the name “Neste”.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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