AMCU grants permission to Ukrnafta for building up more than 50% of Alliance Holding

The Antimonopoly Committee of Ukraine (AMCU) granted permission to PJSC Ukrnafta to purchase more than 50% of the shares of Alliance Holding LLC, which operates a network of Shell gas stations in Ukraine.

"Permission was granted to Ukrnafta to acquire a stake in the charter capital of Alliance Holding LLC, which ensures that it gets more than 50% of the votes on the company's board," the committee said in its decision, published following a meeting on Thursday.

On November 19, 2024, Ukrnafta entered into an agreement with Shell to purchase 51% of Alliance Holding LLC, the operator of the Shell gas station network in Ukraine. After that, the company applied to the AMCU for permission for concentration, which is a mandatory condition for completing the agreement. After receiving it, Ukrnafta will be able to fully close the deal and acquire all the rights and obligations of the shareholder.

Shell is among the top 10 networks by sales volume in Ukraine, with 118 operating gas stations. The network is No. 9 in fuel sales based on the results of nine months of 2024 and No. 7 in the number of gas stations, located mainly in favorable areas with intense traffic.

Of the 118 operating Shell gas stations in 20 regions of Ukraine, 34 are located in the capital region, 11 in Odesa region, 10 in Lviv region, 32 in other regional centers, 31 on highways.

Ukrnafta is Ukraine's largest oil extraction company and operates a national network of filling stations. In March 2024, the company took over the management of Glusco assets, and now operates 545 filling stations – 460 of its own and 85 under management.

The company is implementing a comprehensive program to renew operations and modernize the format of its filling stations. Since February 2023, Ukrnafta has been offering its own fuel vouchers and NAFTA Cards, which are sold to both legal entities and individuals through Ukrnafta-Postach LLC.

The largest shareholder in Ukrnafta is Naftogaz Ukrainy, which holds a 50% plus one share.

In November 2022, the General Staff of the Armed Forces of Ukraine decided to transfer the corporate rights of the company, previously owned by private shareholders, to the state. The Ministry of Defense now oversees these shares.