Petrol Holds Talks To Sell 200 Filling Stations to Russia's Gazprom Neft

Petrol Holds Talks To Sell 200 Filling Stations to Russia's Gazprom Neft

Bulgaria's Petrol Holds Talks To Sell 200 Filling Stations to Russia's Gazprom Neft Bulgaria's fuel retailer Petrol is in talks for the sale of 200 of its filling stations to Russia's Gazprom Neft for an expected price of some 200-300 million euro ($253.7-$380.5 million), Sofia-based media reported. The negotiations are in an advanced stage and they are expected to be finalised by the middle of 2011 at the latest, Dnevnik business daily reported, quoting unnamed industry sources. The biggest challenge before the deal is the price, as Petrol initially sought 800 million euro for the 200 petrol stations, while Gazprom Neft offered 100 million euro, Dnevnik said. However, Petrol hopes to finalise the deal at a price of 200-300 million euro.

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