The fuel retailer "Astarte-nafta" has currently suspended negotiations with the fuel retailer "Circle K Latvia" on the sale of its network of petrol stations, said Ojārs Karčevskis, Chairman of the Board of "Astarte-nafta".
He explained that in July this year the Competition Council (KP) allowed Circle K Latvia to acquire the assets of Astarte-nafta, giving Circle K Latvia sole decisive influence over 26 Astarte-nafta petrol stations. At the same time, the KP decision imposed restrictions on the future full-service operation of the stations.
Karčevskis said that currently Astarte-Nafta has suspended the negotiations with Circle K Latvia and has started to look for solutions to make the KP decision without restrictions.
He also admitted that negotiations are currently underway with the oil product transit company Naftimpeks SIA on the acquisition of decisive influence over Astarte-Nafta.
Representatives of Circle K also indicated that the two parties had failed to reach a final agreement on a number of material terms of the transaction, which is why its implementation has been suspended indefinitely
Full story Fuel retailers Astarte-nafta and Circle K halt deal negotiations / Article.
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