Russia’s Bashneft buys Aktan and its 17 filling stations

Russia’s Bashneft, a vertically integrated company that is one of the country’s five biggest oil refiners, has bought a fuel company named Llc Azs Aktan and its 17 filling stations network all of them located in the Samara Region for about US$22 million.

The transaction “is consistent with our strategy aimed at developing our own retail network in high-priority regions in geographical proximity to the company’s refining complex,” the company said in a statement released in December.

Most of the stations acquired are located along the Ural federal highway, it said. Some of those stations were operated by the Roza Mira group.

The transaction represented 1.2 billion rubles, the company said. While the rouble exchange rate has been very volatile, the amount represented some US$22 million according to free online exchange rate converters considering early December values.

As of September 2014 Bashneft’s network included 565 own filling stations in 16 regions of Russia and 220 partner stations in nine regions of Russia, according to the company website.

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