Tatneft buys Turkish fuel co Aytemiz Akaryakit for $336 mln

KAZAN. April 26 (Interfax) - Russia's Tatneft has acquired 100% of Turkish fuel company Aytemiz Akaryakit, Dogan Holding said in a filing with Turkey's national information disclosure system.

Dogan Holding owned 50% of Aytemiz Akaryakit. The deal was closed on April 26 at a cost of $336 million.

The amount includes estimated net debt on the date of closure.

Dogan Holding said in April that 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. The company has not disclosed the outcome of the discussion.