Firtash plans to buy the WOG gas station chain.

by creator • 30.12.2015 • 0 Comments

Firtash

Dmitry Firtash

Dmytro Firtash is in talks to purchase a controlling stake in the Continuum Group, which owns WOG, one of Ukraine's largest gas station chains, according to LIGA.NET, citing an anonymous source within the oil trading company.

The main owners of the Continuum group are the late Igor Eremeev, Petr Deminsky, Stepan Ivakhiv and Sergey LagurThey each own 25% of the Continuum Group's shares, equally. WOG's chief ideologist died in an accident in August of this year.

As one of WOG's managers noted, it was Eremeev's death that sparked rumors that Continuum's owners were planning to sell their shares.

A group employee reported that Mr. Firtash was secretly negotiating the purchase of a controlling stake in the company.

LIGA.NET contacted Firtash's company for comment on the upcoming deal. However, Group DF's press service declined to comment.

As a reminder, the Continuum Group owns not only a large gas station complex in Ukraine but also the Kherson Oil Refinery. It is one of the largest fuel importers in Ukraine and the largest wholesale trader of petroleum products. Experts estimate that the segment across all Continuum Group distribution channels accounts for 22%. Furthermore, WOG supplies large quantities of petroleum products to numerous state-owned companies, such as Ukrzaliznytsia, as well as to departments of the Ministry of Defense and the Ministry of Internal Affairs.

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