The Board of Directors of Tatneft has agreed to the sale of tire business assets

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AK&M 16 August 2022 13:10

The Board of Directors of Tatneft has agreed to purchase and sell shares and shares in the authorized capitals of business entities. This is stated in the company's message.

The buyer is JSC Tatneftekhiminvest-Holding. Objects of transactions: 1.0269% of the capital in LLC "Trading House "Kama", 99.962% of the capital in LLC "Nizhnekamsk Truck Tire Plant", 100% of the capital in LLC "UK "Tatneft-Neftekhim", 99% of the capital in JSC "Nizhnekamsk Mechanical Plant", 55.9268% of the capital in JSC "Yarpolymermash-Tatneft".

Recall that in the spring of 2022 it became known that Tatneft signed an agreement on the sale of the tire business of the Tatneft group in the Russian Federation to Tatneftekhiminvest Holding. Then it was reported that the deal does not lead to personnel changes, reduction of social and other obligations to employees of the tire complex.

PJSC Tatneft is one of the largest Russian vertically integrated oil companies, which dynamically develops oil and gas production, oil refining, petrochemistry, tire complex, gas station network, electric power industry, development and production of equipment for the oil and gas industry and a block of service structures.

Tatneft's profit under IFRS for 2021 increased by 93.9% to 198.88 billion rubles from 102.57 billion rubles a year earlier. Revenue from sales of non–bank transactions increased by 59% to 1.26 trillion rubles from 795.8 billion rubles, operating profit - by 86% to 256.8 billion rubles from 138.09 billion rubles.