MOSCOW, October 31. /TASS/. The deal to sell Lukoil's foreign assets to Gunvor could be closed within a month if the agreement has already passed the buyer and seller approval process and the parties only need regulatory approvals, Dmitry Kasatkin, a partner at Kasatkin Consulting, told TASS.
"It is difficult to give an exact timeframe due to the involvement of third parties but the deal could be closed within a month provided that the agreement has already passed the buyer and seller approval chains and the parties only need to obtain approvals from regulators (including OFAC)," he said.
Lukoil has a complex legal structure of its foreign assets ownership, Kasatkin said, adding that the transaction will likely include refining and sales in the EU, as well as some exploration and production assets.
Lukoil said earlier that it had received an offer from Gunvor, an international crude oil trader, to purchase Lukoil International GmbH, which holds the Russian company’s foreign assets. The key terms of the transaction have been agreed on by the parties, the Russian oil major said.