The key facts

  • Eurotrans shares fell to 18.3 rubles on the morning of November 9, a decline of up to 12.65%
  • The Moscow Region Ministry of Energy reported a complete shutdown of the network: of 57 stations, 40 had already been sealed off and 17 were awaiting seizure
  • In October, the tax service moved to declare Trassa GSM LLC bankrupt; in August, the Federal Antimonopoly Service found signs of monopolistically high prices

Quotes fell after the network was shut down

Shares of Eurotrans PJSC, which operates the Trassa chain of filling stations, lost more than 12% of their value on the Moscow Exchange on the morning of November 9. In trading that opened at 07:00 Moscow time, the share price fell to 18.3 rubles, a decline of up to 12.65%, according to exchange data. The drop followed reports that all 53 of the company's filling stations in the Moscow region had ceased operations, Life.ru wrote.

What is happening with the filling stations themselves

The day before, the Ministry of Energy of the Moscow Region announced the complete shutdown of the Trassa network across the region. According to the ministry, the owner of the filling complexes — Gazprombank Leasing — has begun seizing them from Eurotrans. In total, 57 stations are involved, four of which are located outside the Moscow region. At the time of the regional Ministry of Energy's announcement, 40 facilities had already been sealed off, while the remaining 17 were awaiting the same procedure; staff access to the closed stations is restricted.

Claims from creditors and regulators

The operator's financial position, as the regional Ministry of Energy noted, is complicated by numerous claims from creditors. In October the tax service filed to declare Eurotrans's subsidiary, Trassa GSM LLC, bankrupt; the petition was submitted to the Arbitration Court of the Moscow Region. Back in August, the regional office of the Federal Antimonopoly Service found signs of monopolistically high prices for gasoline and diesel fuel at the company's stations.

Shares worth 1.6 billion seized from the owner of the scandal-plagued Trassa filling station chain