Estonia : Bankrupt Petrol Retailer GT Oil Sites to be Sold Off
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Tuesday, 01 April 2008 |
Independent petrol retailer GT Oil will have service stations sold for around €2.5m.
Court bailiff is auctioning six petrol stations of GT Oil Estonia and GT Tanklad.
Lembit Eespäev, board member of Jetoil that filed GT Oil Estonia for
bankruptcy said that they are optimistic about the debt since it is
smaller than the value of the petrol stations owned by GT Oil. From the
proceeds of the sale, EEK 19 million would be claimed by fuel trader
Jetoil and one million by Markoil.
Petrol Retailers Olerex, Alerex and Lukoil which have limited presence
in the regions where the petrol stations are located could be
interested in the auction. Other potential interested parties are
Neste and Statoil but are unlikely to bid since Neste does not operate
manned petrol stations and not big enough for Statoil to be
considered interesting.
PetrolWorld 280308
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