Rosneft paid Iakobachvili $144 mln for 49% of Petrocas Energy
MOSCOW. March 4 (Interfax) - Rosneft paid the David Iakobachvili $144 million or 9.3 billion rubles on the date of purchase for a 49% stake in Petrocas Energy Limited, Rosneft said in a report.
Payment was made in January.
In December 2014 Rosneft signed concluding documents that regulate the acquisition of 49% of the shares of Petrocas Energy Limited and the creation of a joint venture for the implementation of Rosneft's activities in the Trans-Caucasian region.
Petrocas is a regional player with focus on logistics, trading and retail trade of petroleum products. It owns and operates a high-technology oil terminal in the port of Poti, Georgia that carries out logistics operations with petroleum products and petrochemicals. The oil terminal's trading activity is concentrated in Caspian and Black Sea regions. The company also operates the largest retail filling station chain in Georgia with 140 branded stations. Petrocas is headquartered in Cyprus and manages its operations from offices in Limassol, Tbilisi and Moscow.