Bashneft completes the acquisition of the OPTAN network of filling stations

August 14, 2014

Bashneft has completed the acquisition of a network of filling stations operating under the OPTAN brand name and comprising 92 filling stations and 11 land plots in 12 regions of Russia.

Today Bashneft Group gained control over 100% of shares of CJSC OPTAN-AZS, which owns 49 filling stations operating under the OPTAN brand name and three land plots. Earlier the Company had gained control over a 100% stake in LLC AZS-Saransk and LLC AZS-Ufa, as well as 100% of shares of CJSC Ural and CJSC Helios owning 43 filling stations operating under the OPTAN brand name and eight land plots to be used for the construction of new filling stations.

The said transactions have been approved by the Federal Antimonopoly Service. The Board of Directors of Bashneft approved the acquisition of the OPTAN network of filling stations for a total of no more than RUB 8.8 billion (adjusted for working capital).
The acquisition of the OPTAN network is part of Bashneft’s strategy to increase the number of its own filling stations in high-priority regions of development in geographical proximity to the Company’s refining complex in Ufa.

Most of OPTAN’s filling stations are situated in administrative centers of the regions and along the М5 Ural, М7 Volga and М51 Baikal federal highways. The majority of the filling stations in the OPTAN network are in good technical condition and land plots planned for construction of new filling stations are located at advantageous sites.

To maximize the effect of commercial operations of the OPTAN network of filling stations, Bashneft plans to rebrand the network and to upgrade and renovate some of its facilities.

Source: Bashneft, 2014.