Yukos Announced a Sale to RussNeft of its 49% Stake at Slovakian Transpetrol for $103 Million
Oil Company Yukos officially announced its sale to RussNeft of the 49% stake at Slovakian Pipeline Company Transpetrol possessed by Yukos’ Finance BV. Yukos press-service informed the stake had been bought by Oil Company RussNeft and the amount of the deal was $103 million. The deal was done on February 4 of this year. It is expected to be completed within 90 days upon its approval by the antimonopoly body and Ministry on Economics of Slovakia.
Transpetrol is the only company in Slovakia operating in the area of interior and exterior crude oil transit via it own network of oil pipelines as well as in the area of oil storing. The total length of Transpetrol oil pipelines is 1.032 km and capacity is 21 million tons.
Earlier the Russian Government supported RussNeft in the tender for 49% stake of Transpetrol possessed by Yukos. This stake could not be sold without approval on the part of the Slovakian Cabinet of Ministers. Among other companies Italian Enel aspired to buy the stake at Transpetrol. RussNeft was the only Russian company that applied for acquiring the Slovakian company.