OREANDA-NEWS. July 21, 2011. ITERA Holding, LLC, a company of ITERA International Group of Companies, has completed a deal with KKCG SE, a parent company of  KKCG Financial and Investment Group. The deal is to do with the sale of oil import, storage and loading complex in Oktyabrsk of the Samara Region. An appropriate permission has been obtained from the Federal Antimonopoly Office of the Russian Federation. According to the deal, KKCG SE has become a 100% owner of the terminal.

The oil terminal sale was accomplished in line with the ITERA Development Strategy and the Sale of Non-core Assets Program. Proceeds shall be used to replenish the resource base of ITERA gas business and to implement its promising chemical and energy projects.

When commenting on the Agreement signature, I. P. Semenyuta, the ITERA Holding CEO, said: "We have chosen the KKCG Group as a profile investor in the first place because we are assured of its high level of professional readiness to manage the complex and to thoroughly study the Russian market distinctions. I am sure that the Czech company is going to be a serious owner of the terminal in Oktyabrsk to give it a new development impetus. It is important that the deal opened a way for our future cooperation on joint investment projects which projects’ options are being currently discussed."

Pavel Saroch, KKCG Group CIO comments on the investment pointed out: "The purchase of the oil terminal is the first KKCG Croup investment project in the Russian market in the so-called "downstream" area, i.e. activities related to processing and marketing crude oil. We also hope that our cooperation with ITERA Group will continue within the frameworks of other projects.

Oktyabrsk Oil Terminal - Oktyabrsk oil terminal is located near the town Oktyabrsk, 200 km away from the city of Samara of the Samara Region. Thanks to the tap to Druzhba Pipeline and its location at ship, rail and highway crossroads, it enjoys a strategically important position in the Region. Reconstruction of the terminal with a transshipment capacity of 3.4 million tons of oil a year was completed in 2010. Its operation commenced this year.

KKCG Financial and Investment Group – KKCG is a multinational financial and investment group that manages assets worth nearly CZK 30 billion and employs nearly 1,500 workers. As a strategic investor, the corporation focuses its long-term activities on crude oil and natural gas, industrial production, finances, and investing. The KKCG Group holds stakes in more than 20 Czech and foreign companies, including MND Group, WestFire Energy, Vitkovice a.s., VITKOVICE HOLDING, Intermos Group, FISCHER Travel Agency, NEV-DAMA Travel Agency, Stanford Publishing, Grossmann Jet Service, and others. KKCG operates in 11 countries worldwide - Canada, the United Kingdom,  Germany, Cyprus, Czechia, Morocco, the Netherlands, Pakistan, Yemen, Romania and Russia. The Company has ten branches located in Amsterdam, Bratislava, Bucharest, Islamabad, Calgary, Limassol, London, Moscow, Prague, and Rabat.

ITERA International Group of Companies is a vertically integrated holding. It is one of the bigger independent producers and sellers of natural gas in Russia. ITERA Group includes 150 enterprises and companies in CIS, the Baltic countries, Russia, Western Europe, Asia, Africa and the USA. Since 2003, ITERA has been producing and processing crude oil in Texas (the USA). ITERA also holds stakes in Latvijas Gaze and Eesti Gaas of the Baltic region.