In a landmark move for Ukraine’s fuel sector, the Antimonopoly Committee of Ukraine (AMCU) has granted LLC “OKKO-DRIVE” permission to lease fuel station assets owned by Avtobansyervis and Blystavytcia. Another 19 stations operated by Avtobansyervis, KLO, and Ginger-S remain under regulatory review.
A senior executive at a Ukrainian fuel retailer noted that the lease-based consolidation means KLO’s shareholders will exit day-to-day operations but retain ownership of the assets. This marks the first instance in Ukraine where one fuel network leases another.
According to Ihor Svichkar, a partner at law firm Asters, the deal could grant OKKO joint or sole operational control, and may pave the way for a full acquisition in the future. He added that the structure likely allows OKKO to avoid assuming KLO’s debt and other liabilities until full integration is complete.
OKKO’s press office explained the company aims to maintain its market leadership, operational margins, and cost efficiency without compromising service quality, operating expenses, or marketing budgets. They noted that building new fuel stations is currently uneconomical, given stagnant demand in the fuel market.
KLO’s primary strategic advantage lies in the concentration of its stations in the capital region — the most liquid market in the country. According to analyst estimates, the 57 KLO stations could be worth up to $150 million.
