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30.10.2009 Re Akpet Deal

Re Akpet Deal  

LUKOIL EURASIA PETROL A.S. (a 100% subsidiary of OAO LUKOIL) paid the final tranche for the shares of the Turkish company Akpet.
The payment was made from LUKOIL Group’s own resources.
According to previous reports, LUKOIL EURASIA PETROL A.S. acquired 100% of Akpet's shares in November 2008 for USD 555 million. The parties of the transaction reached agreement on progress payment in interest-free installments.
The assets of the Turkish company include about 700 filling stations, an extensive terminal infrastructure with the capacity of over 300 thousand cubic meters and a factory to manufacture and pack motor oils.
At present, the total number of filling stations owned by LUKOIL EURASIA PETROL A.S. in Turkey is about 750.