Ukraine's Ukrnafta has signed an agreement with Shell to acquire a 51% stake in Alliance Holding LLC, the operator of Shell's filling station network in Ukraine, the company announced on Tuesday.
"In the coming days, Ukrnafta and Shell will jointly apply to the Antimonopoly Committee for merger approval, a mandatory step to finalize the transaction," the company said.
"The Naftogaz Group is not only adapting to wartime challenges but is also strengthening its position. The profits from Alliance Holding will flow into the state budget as dividends," Naftogaz head Oleksiy Chernyshov stated.
Ukrnafta plans to rebrand all Shell stations within a year, honor existing B2B contracts, and retain the company's 1,550 employees.
Shell currently ranks among Ukraine's top 10 fuel networks, operating 118 filling stations and holding the ninth-largest market share by fuel sales and the seventh-largest market share by the number of filling stations located mainly in areas with heavy traffic as of September 2024.
The Shell-Alliance joint venture began operations in 2007, with Shell owning 51% and Russia's Alliance 49%. The partnership combined Alliance's 150 filling stations with Shell's capital, licenses and branding.
Ukrnafta is Ukraine's largest oil extraction company and operates a national network of filling stations. In March 2024, the company took over the management of Glusco assets, and now operates 545 filling stations – 460 of its own and 85 under management.
Full article Ukrnafta to acquire 51% of Shell filling station chain in Ukraine
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