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“Rosneft” has Bought 49% Petrocas Energy for $ 114 Million

“Rosneft” has acquired 49% of the oil trading company Petrocas Energy Limited from businessman David Iakobashvili for $ 144 million, payment occurred in January, the report of “Rosneft” under IFRS for 2014 says.

At the end of December 2014 “Rosneft” signed the final documents for the acquisition of 49% stake in the Iakobashvili’s company Petrocas Energy Limited and setting the joint venture to implement the activities of “Rosneft” in the South Caucasus.

Petrocas owns and operates a high-tech oil terminal in the port of Poti and operates the largest retail network of petrol stations in Georgia.