Finance / Turkey
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LUKOIL To Expand In Turkey's With Akpet Acquisition
July 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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.