Naftogaz buys 51% of Shell in Ukraine: 118 gas stations and leadership in fuel sales
Kyiv • UNN
Naftogaz group buys a controlling stake in Shell in Ukraine, which includes 118 gas stations. After the acquisition, all Shell gas stations will be renamed within a year, and 1,500 employees will retain their jobs.
Naftogaz group buys shell's stake in Ukraine. Shell ranks 9th in terms of fuel sales in the country for 9 months of 2024 and 7th in terms of the number of gas stations-a total of 118 complexes located mainly in areas with high traffic.
This is reported by The Press Service of Ukrnafta, reports UNN.
Details
A very important event, Ukrnafta becomes the majority owner of Shell gas stations. These are 118 objects, which also include real estate. It is important that we have a goal to retain our staff. This is one and a half thousand people. I would also like to note that this is fully consistent with the strategy of the Naftogaz group. We are increasing our presence in this segment. I am glad that this will also provide an opportunity to improve commercial and financial indicators, improve payments to the state budget, and strengthen our economic opportunities
He Addedthat the Naftogaz group not only adapted to the conditions of the war , but also became stronger. Serhiy Koretsky, head of the management board of PJSC Ukrnafta, noted that the Supervisory Board approved the purchase of this business, as it corresponds to the company's development strategy until 2028.
According to Koretsky, Shell has 15 years of experience in the Ukrainian market, and the International Group's investments in the network exceed.460 million. All Shell gas stations are planned to be rebranded within a year. Existing agreements with business clients will be executed unchanged, and the staff, including employees of the gas station and the head office, will remain in their places.
recall
At the end of October 2024, the State Property Fund of Ukraine became the owner of 49% of the authorized capital of Alliance Holding LLC, which manages the Shell gas station network in Ukraine.
This share previously belonged to Russian businessman Eduard Khudainatov, who was sanctioned after the war broke out. According to the decision of the Supreme Anti-Corruption Court, Khudainatov's assets, in particular his stake in alliance Holding, were confiscated in favor of the state.
As a result, the new ownership structure looks like this:
- Shell Overseas Investments B.V. — 51%;
- State Property Fund of Ukraine — 49%.
By the beginning of the full-scale war, Khudainatov's share in the company fell to 2.56%, while Shell's indirect share increased to 97.44%.
The company explained that the growth of its share was made possible by investments in the development of Ukrainian business, unlike another partner in the holding. However, Shell could not confirm this in a Ukrainian court.
