Neste closes sale of fueling retail business in St Pete to Tatneft

MOSCOW, Oct 31 (PRIME) -- Finnish company Neste has closed the sale of its fueling retail business in Russia, consisting of 75 fuel filling stations and a terminal in St. Petersburg, to oil company Tatneft, the company said in a statement on Thursday.

“In July 2019, Neste Corporation 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 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,” the statement read.

Under the agreement, the fuel filling stations will continue operating under the Neste brand for up to five years.

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