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ANK Bashneft' OAO to acquire OPTAN network of filling stations


Wednesday, 16 Jul 2014 08:00pm EDT 

ANK Bashneft' OAO:Reaches agreement to acquire a network of filling stations operating under the OPTAN brand name and comprising 92 filling stations and 11 land plots in 12 regions of Russia.Bashneft Group obtained control over a 100 pct stake in LLC AZS-Saransk and 100 pct of shares of CJSC Ural and CJSC Helios owning part of the network of filling stations (37 filling stations) operating under the OPTAN brand name and four land plots to be used for construction of new filling stations.These transactions have been approved by the Federal Antimonopoly Service (FAS).In addition, FAS has approved the acquisition of 100 pct of CJSC OPTAN-AZS by Bashneft; OPTAN-AZS owns 49 filling stations operating under the OPTAN brand name and three land plots.The Company has also submitted an application to the antitrust authority to acquire a 100 pct stake in LLC AZS-Ufa owning the rest of the OPTAN network (six filling stations and four land plots).Bashneft’s Board of Directors has approved the acquisition of the OPTAN network of filling stations for a total of no more than 8.8 billion Russian rubles (adjusted for working capital).It is expected that, subject to FAS approval of the acquisition of LLC AZS-Ufa by the Company, the acquisition of the OPTAN network will be completed before the end of 2014. 

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1997.0
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7:18am EDT