Lukoil Europe Holdings BV, a subsidiary of Lukoil, has concluded an agreement with the Austrian company AMIC Energy Management GmbH, regarding the sale of nearly 230 gas stations in Poland, Latvia and Lithuania, announced the largest private Russian oil group. The transaction will be completed in the second half of the year.

The Lukoil representatives stated that the decision “was taken under the program of optimizing the structures of Lukoil assets in Europe.” The stations in Lithuania and Latvia will continue to be operated under the brand Lukoil for another five years.

In April 2015, Lukoil also sold to AMIC all the 240 stations and six oil deposits it held in Ukraine. In June 2015, the oil group decided to sell the subsidiary in Estonia in the distribution segment to the local company Olerex. In 2014, Lukoil has sold its gas stations in the Czech Republic, Slovakia and Hungary.