Statoil Eesti: sale will make us stronger
19.04.2012, 11:44Commenting the news that Norwegian oil giant Statoil is divesting itself of its retail division, Statoil Fuel & Retail and has agreed to sell all of its filling stations to the Canadian chain Alimentation Couche-Tard, representatives of Statoil Eesti say that the deal is going to strengthen Statoil even further.
Kai Realo, CEO of Statoil Fuel & Retail Eesti, said that Couch-Tard is a very strong player in its markets that is going to create the preconditions for continued growth.
Realo said that the deal is not going to change the way Statoil has been doing its retail business and the company will continue to operate under the Satoil brand.
According to Statoil's CFO Torgrim Reitan, the deal will be a step towards fulfilling the company's recent years' strategy. "We believe Alimentation Couche-Tard to be a strong buyer," Reitan said.
The deal involves 2,300 filling stations with a price tag of 1.14 billion euros.
Statoil currently owns 53 filling stations in Estonia. According to a Postimees estimate, Statoil's share in Estonia's fuel retail market was around 26 percent in 2011.
Statoil employs 500 people in its service stations in Estonia and 50 in its head office.