Lukoil closes transaction to acquire Akpet in Turkey

Lukoil Eurasia Petrol, a wholly owned subsidiary of Lukoil Oil Company, has signed a protocol to close the transaction for acquiring a 100% interest of the Turkish company Akpet in Istanbul. Akpet operates a network of 693 petrol stations. The total transaction amount reached USD555 million. The parties agreed that the payment will be implemented in a few interest-free instalments. The company has paid USD250 million in the form of the first instalment. The second and third instalments will be paid not later than 30 April 2009 and 30 October 2009, respectively.

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