Lukoil Continues Eastern Europe Divestitures

Russia’s Lukoil is moving forward with its plan to sell assets in Eastern Europe. Following a similar deal signed last week, the Russian company agreed on terms with Hungary’s MOL and Norm Benzinkút Kft.

‘Slovnaft Česká Republica, Spol. S.R.O. (a subsidiary of MOL Plc.) will buy from LUKOIL a network of 44 gas-filling stations located in the Czech Republic’s territory. Norm Benzinkút Kft will purchase LUKOIL’s filling-station networks in Hungary (75 stations) and the Slovak Republic (19 stations),’ reads a note released on Monday. 

According to Lukoil, the decision is part of a wider strategy meant to optimise its business in petroleum-product marketing. 

The company, which did not mention the tensions between Russia and Europe, did not unveil the details of the deals. It just said both deals are expected to be closed before the end of 2014.