Lukoil would buy 100 percent shares of Akpet under the deal signed in Istanbul.

Lukoil's president Vagit Alekperov said that financial figures of the transaction were confidential business information. However, he said it was a little bit over 500 million USD.

Akpet is the 6th largest company in terms of market size, 2nd biggest company in terms of number of stations and 3rd largest with its storage capacity of 280.000 cubic meters among 43 companies which have distribution licences.

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