YUKOS To Purchase 49% In Slovak Pipeline Operator Transpetrol

The government of Slovakia agreed to sell a 49% stake in the Transpetrol pipeline operator and all management rights to the Russian oil company YUKOS. A relative agreement will be signed next week, the chief of the foreign information department of YUKOS reported to RosBusinessConsulting. After that, the deal is supposed to be approved by the Board of Directors of the company. It is worth mentioning that on December 10, Yukos Finance B.V., i.e. YUKOS' subsidiary, won a tender for a 49% stake in Transpetrol. YUKOS paid $74m for it. According to the terms of an agreement reached after the tender, YUKOS will have an advantage in further sale of Transpetrol's shares, in case Slovak government agrees to further privatization of the company. Transpetrol is a Slovak oil pipeline operator and manages a part of the Druzhba (Friendship) oil pipeline. Transpetrol transports 21m tons of oil annually. 51% of its shares remain in the property of Slovak government.