Nokian Tyres plant in Leningrad Region transferred to Tatneft

ST. PETERSBURG. March 27 (Interfax) - Russian oil company Tatneft has become the owner of 100% of the equity in the Nokian Tyres tire plant in Vsevolozhsk, Leningrad Region, Nokian Tyres LLC.

Tatneft has also acquired 100% of Hakka Invest LLC, which leases and manages the real estate owned or leased by Nokian Tyres.

These changes were made to the information about the legal entity on March 24, data from the Unified State Register of Legal Entities showed.

Finland's Nokian Tyres announced its exit from the Russian market last summer, and in October it was reported that it would sell its assets in Russia to Tatneft. The transaction price was expected to be around 400 million euros.

In February, Russia's Federal Antimonopoly Service approved three applications from Tatneft to acquire 100% of Nokian Tyres LLC, Hakka Invest LLC and Nokian Shina LLC from Nokian Tyres. The Russian government commission for control of foreign investment also approved the deal, but it limited the price to 23.05 billion rubles. In mid-March, Nokian Tyres reported that it had received 285 million euros from Tatneft for its tire business in Russia.