Ukrnafta to buy 51% stake in Alliance Holding from Shell

Reuters

2024-11-20

UPDATE 1-Ukrnafta to buy 51% stake in Alliance Holding from Shell

Changes sourcing in paragraph 1

Nov 19 (Reuters) - Ukraine's largest oil and gas producer Ukrnafta UNAF.PFT said on Tuesday it has signed an agreement with Shell SHEL.L to acquire a 51% stake in its domestic subsidiary, Alliance Holding.

Bloomberg News first reported the development earlier on Tuesday. The transaction marks Shell's exit from Ukraine's market amid ongoing geopolitical tensions, the report said.

Shell did not immediately respond to a Reuters request for comment.

(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Anil D'Silva and Shilpi Majumdar)

((Aatrayee.Chatterjee@thomsonreuters.com;))

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