The Finnish Competition Authority has approved the share transaction between Kesko Food Ltd and Neste Marketing Ltd in which Kesko Food becomes the sole owner of Pikoil Oy, a company operating in the liquid fuels and grocery retail market.
On 30 September 2005, Kesko Food and Neste Marketing signed an agreement under which Kesko Food acquires Neste Marketing's holding in Pikoil. The parties have owned Pikoil on a fifty-fifty basis.
The framework of Pikoil's operations consists of K-pikkolo stores, Neste Motorest service stations with restaurant and Neste K-pikkolo service stations with grocery store. The company operates at over 130 business locations and employs about 1,400 persons.
Terho Kalliokoski, President of Kesko Food Ltd, tel. +358 1053 22204
Mika Rautiainen, Vice President, Kesko Food Ltd, tel. +358 1053 22080