Neste completes divestment of Russian fuel retail business
Finland-headed oil refiner and renewable fuel producer Neste Oyj have announced that it has completed the sale of its fuel retail business in Russia to PJSC Tatneft, a leading integrated oil and gas company in Russia.
In July 2019, Neste announced that it had signed an agreement to sell its fuel retail business consisting of 75 fuel stations and a terminal in North-Western Russia to PJSC Tatneft, one of the leading integrated oil and gas companies in Russia. The transaction received the approval of the Russian competition authorities on October 4 and was closed on October 31, 2019.
The parties have agreed that the value of the transaction remains confidential.