Embattled oil major Yukos is selling its 49% stake in Slovak pipeline company Transpetrol to Russneft oil company, the Yukos press service said Tuesday.
The decision was made by Yukos subsidiary Yukos Finance B.V., the owner of the stake, the press service said.
It also said the sides had signed the relevant agreement Saturday.
The deal is expected to be completed in 90 days, after Slovak anti-monopoly agencies and the economic ministry approve the sale, the press service said.
"The talks, which we have been conducting with the Slovak government for several months, were completed successfully. We agreed that Russneft company's proposals met the demands of all the interested sides," the press service quoted Yukos CEO Steven Theede as saying.
Yukos purchased Transpetrol in 2002 for $74 million. In 2005, the company pumped 10.662 million metric tons of oil. Its pipeline system is 1,032 km long.