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ANK Bashneft' OAO completes acquisition of OPTAN network of filling stations


Wednesday, 13 Aug 2014 08:00pm EDT 

ANK Bashneft' OAO:Completes the acquisition of 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 gained control over 100 percent of shares of CJSC OPTAN-AZS, which owns 49 filling stations operating under the OPTAN brand name and three land plots.Earlier it had gained control over a 100 pct stake in LLC AZS-Saransk and LLC AZS-Ufa, as well as 100 pct of shares of CJSC Ural and CJSC Helios owning 43 filling stations operating under the OPTAN brand name and 8 land plots to be used for the construction of new filling stations.The Board of Directors of Bashneft 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).The acquisition of the OPTAN network is part of Bashneft’s strategy to increase the number of its own filling stations in high-priority regions of development in geographical proximity to the company’s refining complex in Ufa. 

Company Quote

1330.7
-72.3 -5.15%
22 Sep 2014