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"LUKoil buys gas stations in US"

Article provided by:Gateway2RussiaGateway2Russia

9 February 2004
"LUKoil buys gas stations in US"

LUKoil announced that it has agreed to buy 795 gasoline stations in New Jersey and Pennsylvania, the United States, for $265.75m.

The company said $50m of the purchase price is its capital contribution. The remaining financing will be arranged by the US bank Lehman Brothers. LUKoil will use the gas stations as collateral for the 6-year loan.

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