LUKOIL Subsidiary Getty Petroleum Marketing Inc. Closes Deal to Acquire Gasoline Stations from
ConocoPhillips
EAST MEADOW, N.Y., May 21 /PRNewswire/ -- Getty Petroleum Marketing Inc., a wholly owned subsidiary of OAO LUKOIL,
announced that its acquisition of 779 Mobil-branded gasoline stations in New Jersey and Pennsylvania from ConocoPhillips
closed.
According to the terms of this transaction, Getty Petroleum Marketing Inc. has acquired 308 Mobil-branded fee and
lease properties plus contracts to supply an additional 471 Mobil-branded locations. Collectively, these sites generate
over 1.1 billion gallons of gasoline sales annually and will more than double the amount of Getty's current light
product sales in the United States.
"We are pleased to announce the closing of this transaction," said Vincent De Laurentis, President and COO
of Getty Petroleum Marketing Inc. "With this deal finalized, and with the addition of such premier locations to our
portfolio, Getty and LUKOIL have solidified their position in the Northeast market. We look forward to continuing our
position as a leading supplier of petroleum products to U.S. consumers."
Lehman Brothers, a global investment bank, acted as sole lead arranger and sole bookrunner for the Credit Facility
and financial advisor for the acquisition. Renaissance Capital, a Moscow based investment bank, also acted as financial
advisors for the acquisition.
Founded in 1991, LUKOIL is one of the world's largest vertically integrated oil companies and currently ranks
second in the world in terms of proven reserves. As a publicly traded company, LUKOIL is the most diversified Russian
oil company and the first to have ventured abroad to make a significant commitment to the U.S. market. LUKOIL is
Russia's number one petroleum refiner and with this acquisition, has more than 4,700 gasoline stations worldwide
and over 2,000 outlets in the United States. It is publicly traded on numerous international stock exchanges and most
recently was listed on the London Stock Exchange (Symbol: LKOD). Getty Petroleum Marketing Inc.
CONTACT: Joseph Shwirtz, +1-201-461-7850, for Getty Petroleum Marketing Inc.
|
RUSSIA IN FACTS
