Turkish regulator clears Tatneft to buy fuel co Aytemiz Akaryakit

MOSCOW. April 19 (Interfax) - The Turkish Competition Authority has approved a deal for Russia's Tatneft to acquire Aytemiz Fuel Distribution Inc. (Aytemiz Akaryakit), the regulator said on its website.

Tateneft will be the sole owner of the company, according to the decision, reached on April 13.

Turkey's Dogan Holding (Istanbul), owner of 50% of Aytemiz Akaryakit, has said its board of directors had approved the sale of the fuel company to Tatneft for $160 million. The agreement was signed on April 4. Tatneft would acquire 100% of the shares, according to the statement.

Aytemiz Akaryakit A.S. said on its website that it has 10 fuel supply terminals in different regions of Turkey and storage and filling terminals with capacity of 250,000 cubic meters. The Aytemiz brand currently serves 5.5 million drivers per month at more than 570 filling stations in 77 provinces of the country.

It was reported earlier that Tatneft's board planned to discuss setting up an office in Turkey at the end of February.