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AMIC Energy acquires LUKOIL’s fuel retail businesses in Lithuania

25. February 2016

Austrian company AMIC Energy Management GmbH (AMIC Energy) has reached an agreement with LUKOIL Europe Holdings BV regarding the acquisition and the subsequent operation of fuel retail networks of around 230 stations in Lithuania, Latvia and Poland. As part of this arrangement UAB Luktarna (Lithuania) and AS VIADA Baltija (Latvija) will assume the operation of the retail networks in Lithuania and Latvia respectively. The networks in Lithuania and Latvia will continue to operate under the “LUKOIL” brand for a period of up to 5-years under a trademark license agreement. The acquisition is financed with a combination of equity- and debt financing and is expected to close in the second quarter of 2016 upon receipt of appropriate approvals from the competent authorities of the respective countries.

 Source: "AMIC Energy Management"