1 minuteHellenic Petroleum would hereby like to inform investors that, today, Thursday 10th December 2009, the transfer of the BP HELLAS shares was successfully completed along the lines of the announced agreement of June 26th 2009.
The agreement included the transfer of BP HELLAS commercial activities in Greece excluding aviation fuels, lubricants and the solar business via the acquisition of 100% of BP HELLAS shares at a total consideration of €359m subject to adjustments for net debt and other liabilities.
The transferred BP commercial activities include a service station network, storage facilities, as well as the commercial and industrial supply business. The acquired company will be named HELLENIC FUELS SA and will retain the BP brand in the service station network in Greece for a period of at least five years with the option to extend.
On the occasion of the transaction closing, Hellenic Petroleum's CEO, Mr. John Costopoulos, commented:
The agreement included the transfer of BP HELLAS commercial activities in Greece excluding aviation fuels, lubricants and the solar business via the acquisition of 100% of BP HELLAS shares at a total consideration of €359m subject to adjustments for net debt and other liabilities.
The transferred BP commercial activities include a service station network, storage facilities, as well as the commercial and industrial supply business. The acquired company will be named HELLENIC FUELS SA and will retain the BP brand in the service station network in Greece for a period of at least five years with the option to extend.
On the occasion of the transaction closing, Hellenic Petroleum's CEO, Mr. John Costopoulos, commented:
«The completion of this acquisition and the addition of the BP HELLAS service station network to our activity set is another important step forward in the development of our Group. This development will offer a new dynamic to the Group and will bring benefits for the consumers, our employees and our investors. »