Macfarlanes advises Neste on the sale of its Russian fuel retail business to PJSC Tatneft

05 July 2019

Macfarlanes has advised Neste Corporation, an oil refining and marketing company listed on the Helsinki stock exchange, on the disposal of its Russian fuel retail business to PJSC Tatneft, one of the leading integrated oil and gas companies in Russia.

The business, which consists of 75 fuel stations and a terminal in the St. Petersburg region, will continue to operate under the Neste brand for up to five years post-completion under a brand licensing arrangement. The transaction, which is conditional on customary regulatory clearances, is expected to complete in Q4 2019.

The Macfarlanes team was led by co-head of corporate and M&A Howard Corney and corporate and M&A partner Tom Rose, with support from corporate and M&A solicitor Dmitry Morgan. Commercial and IP advice was provided by commercial and IP partner Will Hedges and solicitor Rosie Duckworth, with tax expertise coming from tax and reward partner Ceinwen Rees and solicitor Sophie Walshe.  Macfarlanes worked closely on the transaction with Borenius Attorneys, who provided Finnish and Russian law advice to Neste.