OREANDA-NEWS  On 24 February was announced, that Parallel Company, the largest regional operator on the petroleum products trade market, started the merger process with Germes, which manages a fuel retail network under TM Gefest and 1 filling station under ТМ PitStop.

As the result of integration of two operators Parallel will control 69 filling stations; 20 of them being under Parallel brand (Donetsk and Donetsk Oblast), 47 -under Gefest brand (7 regions of Ukraine and the Republic of Crimea) and 1 filling station under TM Pitstop (Donetsk). The transaction is planned to be completed till April 1, 2009.

"By making this strategic step we plan to improve the cost structure and use the synergy effects from operation of two successful operators. Thus, the merger will ensure sustainable growth and further improvement of the brands' leadership position on the market", stated the Director of Parallel Dmitriy Kulik.

Earlier we reported about concentration of the 100% share of System Capital Management Group in the Charter capital of Parallel-M Ltd and further transfer of the shares of oil trade companies to its subsidiary Parallel Nafta (Cyprus). In particular, SCM transferred to Parallel Nafta the corporate rights of Parallel-M-Ltd (fuel retail network and filling stations under Parallel) and Gefest. 

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Parallel has been operating in the area of retail sale of motor petrol and diesel fuel since 1995. The company owns exclusive rights for sale of Euro fuel of new generation Perfekt developed by joint efforts of Parallel and German chemical concern Basf. The crude fuel is delivered from Mažeikiai Oil Refinery (Lithuania). Parallel is also developing own brand ZZZIP!!; the brand is used at the mini-markets and portal car washes located at its filling stations.

Germes is a part of SCM Group. Germes acts as an operational company for fuel retail network under TM Gefest, which is presented in 8 regions of Ukraine, as well as for filling stations under TM Pitstop in Donetsk.