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Tatarstan´s Tatneft won the auction for the sale of the EKOPET Group of companies

In 2019 Tatneft acquired from Neste Oil Corporation the Russian fuel retail business and completed the acquisition of certain assets, incl. the production of synthetic rubber used for the manufacturing of high-performance tires, located in Togliatti, Samara Region, from SIBUR

Tatarstan´s Tatneft won the auction for the sale of the EKOPET Group of companies

Kazan, June 9 - Neftegaz.RU. EKOPET is the largest enterprise for the production and sale of polyethylene terephthalate (PETF) in Russia and the Eastern Europe.
PETF is used for the production of PETF bottles and cans, food containers and packaging, as well as other technical and household products.

The nominal rated capacity of the PETF factory is 220 000 tons per year.
One of the latest MTR (Melt-To-Resin) technologies of the German Uhde Inventa-Fischer (UIF) company is used for the production of PETF.

Azat Bikmurzin, Director of the Tatneft’s oil/gas and petrochemical complex, said:
  • We are glad that such a modern enterprise will become a part of the Tatneft Group
  • The EKOPET’s products are in great demand and hold a stable position in the market
  • We are confident that this asset will allow Tatneft to fill the missing link in the chain from the producer of raw materials to the end consumer and also to use this ground for the further development of the company’s petrochemical business
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.

The signing of the legally binding documents for the deal is expected in the coming weeks.
ZENIT Bank acted as M&A consultant for the transaction.

To read the article in Russian

Source : Neftegaz.RU

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