Ukraine: Shell to sell 51% of its fuel station network to Ukrnafta

In Ukraine, Shell has confirmed it is selling its network of fuel stations to PJSC Ukrnafta, part of Naftogaz Group following a November 19 statement from Naftogaz, Ukrnafta's parent company.

Ukrnafta and Shell signed an agreement on Ukrnafta acquiring a 51% stake and in December they applied to the Antimonopoly Committee of Ukraine (AMCU) to obtain permission for the merger. This is a prerequisite for completing the deal. Ukrnafta's Supervisory Board has approved this acquisition, since it is in line with the company's development strategy. Rebranding of the fuel stations will be carried out within a year.

With 118 fuel stations across Ukraine, Shell is among the country's ten largest fuel retailers in terms of sale