MOSCOW, January 29. /TASS/. Lukoil has reached an agreement with American company Carlyle to sell Lukoil International GmbH, which owns its foreign assets, Russia’s oil major announced. The deal does not include projects in Kazakhstan and is conditional on a number of approvals, including from US authorities.
The agreement is not exclusive as Lukoil continues negotiations with other potential buyers, the company noted.
"PJSC Lukoil informs that it signed agreement with US investment company Carlyle on sale of Lukoil International GmbH (100% subsidiary of PJSC Lukoil which owns international assets of Lukoil Group). The transaction does not include the assets in Kazakhstan which will remain to be owned by Lukoil Group and continue their operations under respective license," according to the company’s statement.
The agreement signed is subject to some precedent conditions, including obtaining necessary regulatory approvals, including permission of the US Department of the Treasury's Office of Foreign Assets Control (OFAC) for the transaction with Carlyle. "The company also continues negotiations with other potential purchasers," Lukoil added.
The company recalled that the sale of Lukoil International is related to the introduction of restrictive measures by certain states against Lukoil and its subsidiaries.
In October, the US and UK put Lukoil on sanctions lists, after which the company announced its intention to sell its international assets and cited Gunvor's offer to purchase Lukoil International GmbH. Gunvor later withdrew the offer after the US Treasury Department announced that a license for such a deal would not be issued until the conflict in Ukraine ended. The media reported on a wide range of companies interested in Lukoil's assets.
