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English Español Ukraine: Parallel fuel station network reportedly sold

Parallel’s owner SCM Group has not confirmed nor denied the reliability of reports about the transaction.



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Ukraine’s System Capital Management (SCM) Group has sold its Parallel fuel station network in the country, reports online industry magazine Enkorr citing sources. According to the Ukrainian publication, the buyer was not an active player in the retail market, but a wholesale trader or the owner of a small network intending to develop in this segment.

News on the sale of Parallel network of fuel stations was previously reported in banking circles. However, SCM management has not confirmed nor denied to this day the reliability of the reports about the transaction.

"We do not comment on rumors and assumptions about any deals," said SCM spokesman Yevhen Buzykin to the Interfax-Ukraine agency.

Parallel sells its fuel at 60 fuel stations and gas stations in Dnipropetrovsk, Zaporizhia regions, and in the territory of Donetsk and Luhansk regions controlled by Ukraine.

Founded in 1995, Parallel-M LTD is managed by Parallel Nafta Ltd., a subsidiary of SCM Group. The company cooperates with more than 700 partner filling stations in Ukraine.

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