The Neft-Aktiv subsidiary of Russian state-owned oil firm Rosneft has agreed to acquire oil product retail distribution and related infrastructure assets in European and southern Russia from Unitex, for around $630 million.
Unitex acquired the assets, formerly held by bankrupt Russian oil firm Yukos, in an auction held by the Kremlin. The company beat competition from both Shell and BP’s Russian joint venture TNK-BP.
Through the acquisition, Rosneft has received a total of 495 retail stations and neighboring product terminals from Unitex. The retail and small wholesale oil product marketing assets in European Russia also include Yukos-Ladoga in St Petersburg and Yukos-Petroleum.
Neft-Aktiv has also agreed to pay RUB4.9 billion (about $189 million) for Lot 9 of the Yukos assets, which includes over 100 retail stations in southern Russia. The Lot 9 assets also include 26.26% of OJSC Kuban Generation Company, 100% of OJSC Stavropolnefteproduct and 49.892% of Caspian Oil Company.
Rosneft said that the acquisition of these enterprises will enable the company to become a leader in the growing and attractive oil products retail market in Russia, providing further benefits of vertical integration and improved financial and operating performance.