LUKOIL TO PURCHASE CERTAIN RETAIL ASSETS IN EUROPE FROM CONOCOPHILLIPS
LUKOIL and ConocoPhillips have reached definitive agreement for LUKOIL to purchase 376 ConocoPhillips' fueling stations in six countries in Europe.
The agreement covers 156 stations in Belgium, 49 in Finland, 44 in the Czech Republic, 30 in Hungary, 83 in Poland and 14 in Slovakia. These stations are among the most efficient in their respective markets. At present, all facilities are branded Jet stations and will be re-branded as LUKOIL stations within two years.
The transaction is expected to close in the second quarter of 2007 following review by relevant authorities.