Sayenko Kharenko Advises PJSC UKRNAFTA on Acquiring 51% Stake in Shell Gas Station Network in Ukraine

Sayenko Kharenko has acted as legal counsel to PJSC UKRNAFTA (Ukrnafta) throughout the preparation, negotiation, and finalisation of documents for acquiring a 51% stake in Alliance Holding LLC, which owns a network of 118 Shell-branded gas stations in Ukraine.

In addition to negotiating the transaction documents, Sayenko Kharenko assisted with the buy-side transaction process, which included conducting legal due diligence, securing corporate approvals, and guiding the deal through execution. The transaction is still pending approval from the Antimonopoly Committee of Ukraine.

Sergii Koretskyi, CEO of Ukrnafta, noted the contribution of Sayenko Kharenko’s team in the transaction. “This strategic acquisition is a key component of our company’s long-term development plan. It will strengthen the brand’s presence in the retail market and expand the network of petrol stations,” said the CEO.

Ukrnafta is Ukraine’s largest oil company. Its principal activities include exploration, production, and sale of oil and gas, oil and gas treatment, provision of oilfield services, and management of a network of petrol stations.

Ukrnafta holds 92 special permits for the commercial development of oil and gas fields. The company has more than 2,000 oil and gas production wells and operates 547 petrol stations.

Sayenko Kharenko’s transactional team was led by partner Alina Plyushch and included senior associate Roman Drozhanskyi, associates Dmytro Zaiachkivskyi and Marian Mokryk, while the due diligence team was led by counsel Tymur Enkhbaiar and included, among others, senior associate Taras Bondarenko and associate Victoria Chorna. The project was supervised and coordinated by partner Oleksandr Nikolaichyk.