Neste divests its gas business in Estonia

Neste Oil (OMXH: NES1V) has sold its majority owned Estonian subsidiary AS Reola GAAS to Estonian-based Alexela Group for an undisclosed price. The divestment will have a minor positive impact on Q3 results. AS Reola Gaas sells bottled, bulk, and automotive gas to mainly industrial customers. Neste Oil is down 4.5% to 8.72 Euro two hours before closing.