PJSC Ukrnafta and the Asset Recovery and Management Agency (ARMA) have successfully executed transfer acceptance certificates for the confiscated assets of the Glusco Group of Companies.

Ukrnafta is now the recipient of the seized corporate rights of these companies, along with real estate assets including filling stations, land plots, oil depots, and other properties.

This acquisition enables the company to ensure the stability and development of the Glusco network and its associated infrastructure. This will facilitate the fulfillment of orders from the Cabinet of Ministers of Ukraine and the management agreement with ARMA.

In the interest of the state, ARMA and Ukrnafta have mutually agreed to modify the terms of their contract.
The state will now receive 90% of the net profit, an increase from the previous 85%, with the remaining 10% serving as a management fee. Additionally, the minimum monthly guarantee payment that Ukrnafta will pay irrespective of profit has been raised from UAH 5 million to UAH 7 million.