FACTBOX: What is known about Lukoil's agreement with Carlyle to sell its foreign assets
The deal is not exclusive as Lukoil continues negotiations with other potential buyers
MOSCOW, January 29. /TASS/. Lukoil has reached an agreement with American investment company Carlyle to sell Lukoil International GmbH, which owns its foreign assets, Russia’s oil major announced. The deal does not include any projects in Kazakhstan and is conditional on a number of approvals, including from US authorities.
TASS has collected the key facts about the agreement.
- Lukoil has reached an agreement with Carlyle on the sale of Lukoil International GmbH.
- The deal is not exclusive as Lukoil continues negotiations with other potential buyers, the company noted.
- 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 deal does not include projects in Kazakhstan.
- 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.
- The price of Lukoil shares gained almost 3.5% during the morning trading session on the Moscow Exchange, reaching 5,385 rubles per share, and later 5,401 rubles per share.
- In October, the US and UK put Lukoil on sanctions lists.
- After that 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.