Galnaftogaz expands into Eastern Ukraine with Kreaton purchase

Galnaftogaz (UX: GLNG UK) received permission from Ukraine’s Antimonopoly Committee to purchase more than a 50% stake in Kreaton, a Kyiv-registered company that owns several land plots in Eastern Ukraine on which Galnaftogaz plans to expand its filling station network, according to media reports on Friday. According to Interfax, Galnaftogaz controls about 300 stations and 15 depots currently.