Lukoil Leaves East-Central Europe

According to vg.hu, Mol buys Lukoil’s network in the Czech Republic, Norm Petrol Station Ltd will own the Hungarian and the Slowakian ones.

Mol announced that they agreed with Lukoil on takeover the Czech network of the Russian firm. Lukoil also wrote about the sale of their Hungarian and Slowakian sectors to Norm Petrol station Ltd, which is indirectly owned by Imre Fazekas (former Hungarian key person of Yukos) and Normestone Ltd from Belize, vg.hu says.

Lukoil is the fifth most important actor of the Hungarian fuel market. They entered the Hungarian market in 2003 and they bought Jet Oil Company in 2008. They quit the petrol wholesale because of the crisis tax in 2010, but they tried their luck again in 2013.

According to vg.hu, the Russian Lukoil announced in July 31st this year that they sell their 240 Ukrainian filling stations to AMIC. It is interesting because the Chairman of the Supervisory Board of AMIC is Wolfgang Ruttenstorfer,who was CEO of OMV at the time when they wanted to buy Mol.

based on the article of vg.hu
translated by Becsi

Photo: MTI – Attila Kovacs

Source: http://www.vg.hu/