Geo Alliance Group Limited held by trusts whose beneficiary is Victor Pinchuk, has acquired 50% of shares of Geo-Alliance Oil-Gas Public Limited from Arawak Energy Ukraine B.V., a wholly owned subsidiary of Vitol.

The transaction resulted in Geo Alliance Group Limited and its shareholders becoming the holders of 100% shares of Geo-Alliance Oil-Gas Public Limited.

Further details of the transaction are restricted by the confidentiality agreement.

„We are grateful for the strong working relationship we had with our Ukrainian partner over the last 9 years. We wish GEO ALLIANCE GROUP success for the future“, – said representative of Vitol Jonathan Marsh. 

„During all 9 years our partnership with Vitol was beneficial and constructive. We are grateful for their support and contribution to the development of GEO ALLIANCE GROUP“, – said representative of Geo Alliance Group Limited Michael Bilostotsky. 

• Geo-Alliance Oil-Gas Public Limited is a holding company of the group of oil and gas companies, operating in Ukrainian upstream sector starting from 2004. GEO ALLIANCE GROUP is one of the leading private producers of natural gas and condensate, as well as the largest private producer of LPG in Ukraine;    
• ARAWAK ENERGY UKRAINE B.V.  is a wholly owned subsidiary of Vitol, the world largest independent trader of energy.