Tatneft completed the acquisition of Neste’s retail business in Russia

1 November 2019, Friday

The transaction on the acquisition of Neste’s retail business in Russia by Tatneft was closed today.

An agreement on the sale by Neste Corporation of its Russian fuel retail business consisting of 75 fuel stations in North-West Russia and a terminal in Saint Petersburg to Tatneft was signed in July of 2019. The transaction was approved by the Federal Antimonopoly Service on 4 October and closed on 31 October 2019.

Pursuant to a separate agreement between Tatneft and Neste, following the acquisition, the acquired retail network will continue to operate under the Neste brand for up to 5 years.

Tatneft’s retail network is one of the five Russia’s largest ones with more than 710 own filling stations. The focus of Tatneft’s retail sales strategy is on the sale of high-grade fuels produced at its own state-of-the-art TANECO Refinery. One of the key priorities upon the development and operation of Tatneft’s retail network is to minimise environmental impact.

Neste (NESTE, Nasdaq Helsinki) is the world’s largest producer of renewable diesel fuel refined from waste and residues.

Based on information by Tatneft press service

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