Russia: Statoil Fuel & Retail Expanding Retail Network with Acquisition
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Thursday, 15 December 2011 |
Statoil Fuel & Retail has agreed to buy seven fuel service stations in the St. Petersburg and Leningrad regions from Ekogasservice JSC. The stations, acquired through subsidiary Statoil Nefto, will increase Statoil Fuel & Retail’s presence in Russia to 26 stations.
Jørn Madsen, Executive Vice President for Central & Eastern Europe, said the acquisitions would be in key strategic areas for the company. “St. Petersburg and the Leningrad region are attractive markets with high levels of economic growth and few service stations per capita. This acquisition supports Statoil Fuel & Retail's strategic ambition to grow and effectively compete in the Russian market,” he remarked.
"The acquisition offers us the opportunity to expand our existing network of well-maintained, new concept stores delivering best-in-class customer service in the north-west part of Russia," agreed the Business Unit Leader for Statoil Fuel & Retail in Russia, Sandis Steins. Following the transaction, which is subject to regulatory approval, the stations will be rebranded as Statoil.
PetrolWorld 15122011
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