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LUKOIL uses iDeals™ Virtual Data Room when selling its Estonian subsidiary

June 05, 2015

LUKOIL and Olerex, an Estonian fuel company, recently signed a mutually beneficial sales-purchase agreement. LUKOIL, one of the largest oil companies in the world, produces 2% of the world’s oil, will sell to Olerex 100% of the stock of Eesti AS, one of its subsidiary.

The transaction was carried out using iDeals™ Virtual Data Room service. The deal is subject to the approval of Estonia's Competition Authority. The details and amount of the transaction were not disclosed. However, industry experts estimate the cost of the deal to be EUR40M.

Once the deal is finalized, Olerex will have a chain of 80 service stations and become the largest in Estonia.

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