LUKoil Buys 59 Filling Stations in Europe

Russia’s largest private oil company LUKoil has signed agreements to buy 46 filling stations in the Netherlands and 13 in Belgium, LUKoil said on Thursday.

The deals were signed between LUKoil Belgium N.V., a LUKoil subsidiary, and Verolma Group.

“The transaction is to be finalized in the second quarter of 2012 after the appropriate permissions are granted by the Dutch and Belgian regulating authorities,” LUKoil said in a statement.

The filling stations acquired by LUKoil include 29 stations owned by dealers.

The acquired filling stations use different brands in their operation and will be rebranded to comply with the LUKoil corporate style after the deal is closed.

“After the transaction completion 228 LUkoil filling stations will be located in the Benelux countries (including 29 stations owned by dealers), with 180 ones in Belgium, 46 in Holland, and 2 in Luxembourg,” the statement said.


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