Public Joint Stock Company “Ukrnafta” and Asset Recovery and Management Agency have signed an agreement to manage the Glusco filling station network.

The significant terms of the agreement are as follows:

85% of the net profit goes to the state, while Ukrnafta receives 15% for management.

The guaranteed monthly payment is 5 million UAH, which represents the minimum amount to be transferred to the budget.

"After the agreement is signed, the actual process of transferring the Glusco assets for management should begin, which will take some time. The Ukrnafta team will make every effort to ensure the effective operation of the filling station network from the moment the acceptance and transfer documents are signed," said Sergii Koretskyi, CEO at UKRNAFTA.

To recap, on September 12, the Cabinet of Ministers of Ukraine made the decision to transfer the arrested assets of Glusco to the management of the Public Joint Stock Company “Ukrnafta”.