RNS Number : 3702B
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.
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