Pharma Industry
Industry: Email Alert RSS FeedLukoil close to gaining foothold in EU. (News: Europe).(may purchase stake in Hellenic Petroleum)(Brief Article)
Chemical Market Reporter, May, 2002 by Milmo, Sean
LUKOIL, RUSSIA'S largest oil producer, is close to getting a stake in Greece's Hellenic Petroleum, one of the largest producers of refining products and petrochemicals in southeastern Europe. The deal, which is part of Lukoil's plans for expansion in the refinery and petrochemicals sector of the Balkans, gives the Russian company its first foothold in a European Union country.
The Greek government, which has a 67 percent shareholding in Hellenic, has announced that Lukoil and Latsis Group of Greece are the preferred joint bidders for a 23 percent stake in the company. The deal is likely to be finalized in the next two months. The decision follows the withdrawal from the bidding process by Yukos, Russia's second largest oil producer, and OMV, the...
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