Naftex Petrol Revealed as Buyer of 19% of Petrol's Capital

Naftex Petrol Revealed as Buyer of 19% of Petrol's Capital

Naftex Petrol is the buyer of the 20.584 million shares, accounting for 18.84% of the capital of Petrol Jsc, which were transferred on the Bulgarian Stock Exchange (BSE) last week, the weekly bulletin of the Central Depository shows.

The company, which is solely owned by Petrol owns 23.794% of the capital after the transaction. The deal was sealed on April 2, while its value amounted to 87.07 mln leva.

The shares were sold by Naftex Oil & Shipping Corporation - UAE, which acquired the stake from Naftex Petrol in the end of 2005.

Petrol plans to sign a contract with Lukoil Bulgaria for the sale of part of its filling stations, it emerged in the beginning of the month.

The deal is pending approval by Bulgaria's Commission for Protection of Competition (CPC).

Petrol operated a total 519 filling stations in 2007.

Lukoil Bulgaria has also notified the CPC on its intentions to acquire a real estate property, which is actually the Iliantsi fuel products storage base. A similar move would represent concentration of economic activity.

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