The transaction is valued at approximately EUR 80 million, of which around EUR 50 million will be recorded as a capital gain by Neste Oil. The sale will also have a clear positive impact on Neste Oil's cash flow.
"Our aim is always to be among the top three in all our retail markets, and unfortunately we never succeeded in reaching this nationwide in Poland," says Sakari Toivola, Neste Oil's Executive Vice President, Oil Retail. "The financial performance of Neste Polska was also below our expectations. Together, these factors led to our decision to sell Neste Polska, and end our more than 20-year retail presence in Poland."