Rosneft to buy the refuelling complexes of Bazel in airports

On the threshold of the Olympics in Sochi Rosneft decided to take control of aircraft fuelling complexes in the south of Russia. The state company will buy five refuelling complexes in the airports of the Krasnodar Territory and Abakan from Bazovy Element (Bazel). The transaction can amount to $230-250 million and the market competitors believe it is profitable for Rosneft.

Rosneft reported, it had coordinated the main conditions of the purchase of all five filling complexes of Bazel in the airports of Krasnodar, Sochi, Anapa, Gelendzhik and Abakan. The corresponding document was signed at Tuapse oil-refining plant in presence of the President of Rosneft Igor Sechin and the owner of Bazel Oleg Deripaska. The transaction presupposes selling of 100% in Bazovy operator company (Basic jet fuel operator, BATO) which owns the refuelling complexes. As reported by the source at the market, the transaction can amount to $230-250 million. Bazel has no more refuelling complexes. When the transaction is completed Rosneft will become the owner of BATO and the strategical partner of BazelAero (the structure in charge of the airports of Bazel) and will provide for the filling of transportation facilities in the key airports of the south “Olympic” destination.