The oil company ASCOM Group has withdrawn its interest in acquiring the country’s largest fuel trader Pertrol, according to undisclosed sources of Pari Daily . The daily claims that the sale price was put at EUR 350mn, which was considered as too high by ASCOM. It is rumoured, however, that the contract’s failure could be linked to the recently filed court appeal of Lukoil Bulgaria against Petrol. The Lukoil’s refinery in Burgas demands some BGN 90mn (EUR 46mn) in overdue liabilities of Petrol, including fuel supplies and penalties.
Source: Intellinews - Bulgaria Today