Monday, May 12, 2008

Russia’s firm Lukoil has no intentions to acquire Ina.

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Russia’s firm Lukoil has no intentions to acquire Ina. The Russian oil company Lukoil has no intentions to buy the national oil and gas company Ina and Hungarian oil company Mol, the daily Poslovni Dnevnik reported, quoting Nikolai Ivcikov, the Lukoil Croatia director. Ivcikov revealed that the company would like to build from 75 to 100 petrol stations in Croatia in the next 5 years, which would cost about USD 200mn. Lukoil intends to open 25 stations by the end of 2008 and to expand further by new 25 stations next year. Ivcikov explained that Lukoil would not introduce dumping prices in order to compete with Ina, as this is not in line with the company’s policy. As recalled, few days earlier, Lukoil Europe Holdings, the subsidiary of OAO Lukoil, announced at its website that it closed the deal on acquisition of the local fuel retailer Europa Mil. Lukoil acquired nine retail outlets in Zagreb and Split , five land plots for filling station construction and product railway hub with capacity of 8,000 cubic meters in Vukovar on the Danube river.

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Russia’s firm Lukoil has no intentions to acquire Ina.

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