22 Feb 2013 12:32

Sistema in process of agreeing Argos purchase

MOSCOW. Feb 22 (Interfax) - AFK Sistema is currently in the process of agreeing the valuation for acquiring European petroleum products distributor Argos for 100-150 million euro, Sistema's main owner Vladimir Evtushenkov told reporters.

"The Argos purchase is small in terms of the transaction volume. We won't need to raise additional financing. Right now we're in the stage of agreeing a valuation at 100-150 million euro. A final decision hasn't been made yet," he said.

As reported, Sistema is in negotiations to buy Argos, on the basis of which it would like to build its own international petroleum products sales business.