8/20/2008

Lukoil gets Turkish regulatory approval for Akpet purchase

Bloomberg - OAO Lukoil, Russia's largest non-state oil producer, got Turkish regulatory approval for its purchase of Akpet, the operator of 693 filling stations in Turkey. The transaction complies with Turkish antitrust laws, the regulator in Ankara said on its web site. Lukoil agreed to buy Akpet on July 28 as it seeks to use rising oil revenue to expand in the Black Sea and Mediterranean regions. The purchase, valued at more than $500 million, will probably be completed in the third quarter, spokesman Dmitry Dolgov said on July 28.

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