PJSC "Ukrnafta", part of the Naftogaz Group, and Shell International Company have signed an agreement on acquisition of a 51% stake in Alliance Holding LLC.

Leading global investment banking advisor Rothschild & Co has performed an assessment of the transaction and assets. The leading Law Firm Sayenko Kharenko is responsible for the legal aspects. KPMG is an auditor.

In the coming days, Ukrnafta and Shell will file an application with the Antimonopoly Committee for a concentration permit. After the permit is received, Ukrnafta will be able to complete the transaction and acquire all the rights and obligations of the shareholder.

"The Naftogaz Group has not only adapted to the war conditions but becomes stronger. We remain flexible and we are not afraid to make decisions that allow the State earning money. Ukrnafta will become the majority owner of a network of 118 operating gas stations, and other property. The profit that Alliance Holding will generate will go to the national budget in dividends,” Oleksiy Chernyshov, the CEO of the Naftogaz Group, said. 

Shell enters the TOP10 chains in terms of sales in Ukraine with 118 operating gas stations. It ranks ninth in terms of fuel sales in the first 9 months of 2024 and ranks seventh in terms of the number of filling stations located mainly in favourable heavy-traffic areas.

"The Supervisory Board of Ukrnafta approved the resolution, as the acquisition of the business, managed for 15 years by a reputable international group, will provide Ukrnafta an opportunity to expand its gas-station network and market share, which corresponds to the Company's development strategy," Sergii Koretskyi, CEO of PJSC "Ukrnafta" stated.

All gas stations will be re-branded within a year. The terms of existing B2B contracts will be fully adhered. The existing staff will be retained. These are 1,550 employees, working at the gas stations and in the head office.