LUKOIL To Expand In Turkey's With Akpet Acquisition

July 2008 | M&A News Alert

Russian oil firm LUKOIL has agreed to purchase Akpet, a Turkish fuel distributor, for a little over US$500mn. The deal is part of LUKOIL's strategy to raise its market share in Turkey to 10%. The acquisition will give the firm 5% of the country's oil product retail market.

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