17:50 22.01.2016

AMC ignores Swiss Glusco Energy's application to buy Rosneft fuel filling stations network due to incomplete info on owners

2 min read
AMC ignores Swiss Glusco Energy's application to buy Rosneft fuel filling stations network due to incomplete info on owners

The Antimonopoly Committee of Ukraine (AMC) has not considered an application of Swiss-based Glusco Energy S.A. regarding the purchase of the Rosneft fuel filling stations network in Ukraine because of incomplete information about control relations, first deputy head of the agency Mariya Nizhnik has told reporters in Kyiv.

"The application has not been considered because the submitted documents and information do not correspond to the requirements of the law... in particular the essence of the transaction and control relations have not been fully disclosed and a defective power of attorney for representing the interests of the buyer was provided," she said.

Nizhnik added that the company has the right to repeatedly appeal to the AMC.

As reported, the Rosneft network of fuel filling stations in Ukraine includes 141 objects in 12 regions, operating under the brands of Formula, TNK, Gold Cheetah (Zoloty Hepard), and Smile.

Glusco Energy S.A. is part of Proton Energy Group S.A. (Switzerland), an oil and petroleum products trader. In Ukraine the company's activity is based on diesel fuel supply via seaports. According to preliminary data, in 2015 Proton Energy supplied about 500,000 tonnes of diesel fuel to Ukraine. The global trade turnover of Proton Energy is about 3.5 million tonnes per year.

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