LUKoil has reached an agreement to sell its filling stations in the Czech Republic to Royal Dutch/Shell
Published:
25 December 2003 y., Thursday
LUKoil has reached an agreement to sell its filling stations in the Czech Republic to Royal Dutch/Shell.
The sale of the three filling stations ends LUKoil’s involvement in the Czech market (and brings the number of Shell stations in the country to 144). The two companies did not disclose the selling price, but Prospect Investment analyst Dmitrii Tsaregorodtsev told "Kommersant-Daily" they likely went for "around $3 million." Though the deal represents a drop in the bucket for the multibillion-dollar oil company, it could be the harbinger of things to come. Gennadii Krasovskii, who heads LUKoil’s investor-relations department, told "Vedomosti" on 16 December that the company plans to rid itself of unprofitable assets while increasing its presence on markets where it is doing well.
Aton analyst Timerbulat Karimov told "Kommersant-Daily" that LUKoil's filling stations throughout Eastern Europe, the Baltics, and the former USSR could go on the block. Observers queried by the newspaper fingered stations in Bulgaria, Poland, and the Baltics -- LUKoil owns more than 100 stations in each location -- as likely candidates for sale.
Šaltinis:
rferl.org/businesswatch
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »