PJSC Tatneft Acquisition of EkoPet
June 09 2021 - 10:04AM
Dow Jones News
TIDMATAD
RNS Number : 3702B
PJSC Tatneft
09 June 2021
9 June 2021
Tatneft to acquire EkoPet group of companies
Tatneft won a tender for the sale of Russia's largest
polyethylene terephthalate (PET) producer EkoPet based in
Kaliningrad region of Russia by Bank Trust (PJSC).
EkoPet is the largest producer and supplier of PET in Russia and
Eastern Europe with the production capacity of 220 thousand tonnes
of PET per year. One of the most advanced technologies MTR
(Melt-To-Resin) of the German Uhde Inventa-Fischer (UIF) is used by
EkoPet to produce PET.
The acquisition of EkoPet will allow the most efficient
implementation of the Company's plans for the development of the
petrochemical business and will contribute to the accomplishment of
the Tatneft Group's goals to reduce greenhouse gas emissions along
the entire value chain.
Tatneft's winning bid was for 6.45 billion Rubles. The
acquisition is subject to legal documentation which is expected to
be completed in the next few weeks.
This press release contains inside information.
Forward-looking statements: This press-release contains certain
statements about future events and expectations that are
forward-looking in nature. Any statement in this press-release that
is not a statement of historical fact is a forward-looking
statement that involves known and unknown risks, uncertainties and
other factors which may cause actual results, performance or
achievements expressed or implied by such forward-looking
statements to differ. PJSC Tatneft assumes no obligations to update
the forward-looking statements contained herein to reflect actual
results, changes in assumptions or changes in factors affecting
these statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQSSLFDUEFSEDM
(END) Dow Jones Newswires
June 09, 2021 09:52 ET (13:52 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Pjsc Tatneft (CE) (USOTC:OAOFY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pjsc Tatneft (CE) (USOTC:OAOFY)
Historical Stock Chart
From Sep 2023 to Sep 2024