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Tatneft pays $169 mln for 75 fuel stations of Finnish Neste in St. Petersburg

The retail chain will continue functioning under the Neste brand within five years

MOSCOW, November 29. /TASS/. Russia’s oil producer Tatneft, which closed the transaction on the purchase of a fuel retail business of the Finnish Neste in St. Petersburg, consisting of 75 fuel gas stations and a fuel terminal in northwestern Russia at the end of October, paid 10,832 bln rubles ($169 mln) for the asset, the company said in its IFRS Q3 financial report on Friday.

That is the amount Tatneft paid after the accounting date for the chain of fuel stations, including cash on accounts and working capital adjustment of 1,375 bln rubles ($21.4 mln).

The retail chain will continue functioning under the Neste brand within five years.

Tatneft’s fuel retail chain comprising 602 stations as of end-2018 is among five largest ones in Russia. The company operates in Tatarstan, the Samara, Orenburg and Ulyanovsk regions, the Nenets Autonomous District, and Kalmykia.