23 May 2003 02:43
LATVIA`S DINAZ GAS STATION CHAIN CHANGES OWNERS, NAME
RIGA, May 23, BNS - Dinaz Group, operating 25 gas service stations in Latvia, has been sold to a Russian company and
renamed as RusLatNafta, reported the business newspaper Bizness & Baltija.
The amount that Russian oil trader RusBelNafta has paid for Dinaz Group is kept confidential but the expert estimate
requested by the newspaper suggests the price of some two million US dollars.
The newspaper said no changes in gas station operations and the company management are planned for the nearest
future, keeping also the existing trade mark.
Dinaz management refused any detailed comments, and a representative of the new owners told Bizness & Baltija
they were not ready to make their plans public yet.
The newspaper said the change of ownership probably was not related to Dinaz Group financial situation. According to
information from the Latvian Business Register, Dinaz Group net sales stood at 11.48 million lats (EUR 17.42 mln) in
2001 and grew to 11.57 million lats last year.
Dinaz Group ranks fourth on the Latvian fuel retail market after Statoil, Neste and LUKoil. The company does not own
the gas stations, it only runs them.
[FTI [The Financial Times]] |
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