Lukoil has received an offer from the Swiss-based, Russian-Swedish rooted commodities trader Gunvor Group to acquire Lukoil International, its wholly owned subsidiary that holds the company’s international assets. The main terms of the deal have already been agreed upon between the parties. Lukoil has accepted the offer and will not enter negotiations with other potential buyers.
The signing of the binding agreement depends on several conditions, including obtaining permission from the US Office of Foreign Assets Control (OFAC) and other required licenses or approvals in relevant jurisdictions. If needed, the parties will apply for an extension of the existing OFAC license and any additional permits to ensure uninterrupted operation and banking services until the deal is completed.
The sale follows sanctions imposed by the US and the UK on the company and its subsidiaries.
