I'm interested in

The page will reload with new widgets as you request.

31.01.2011 LUKOIL Receives Notice to Acquire 11% in ISAB

31.01.2011 
LUKOIL Receives Notice to Acquire 11% in ISAB  

LUKOIL IS OFFERED TO ACQUIRE 11% IN THE JOINT VENTURE TO OPERATE ISAB
 
LUKOIL received a notice today that the Board of Directors of the Italian ERG resolved to sell to LUKOIL 11% in the joint venture to operate the ISAB refining complex located in Priolo (Sicily).
 
This is a partial exercise of ERG’s option to sell its stake according to the agreement of 2008 to create a joint venture.
 
Thus, LUKOIL’s stake can be increased from 49% to 60% and the Company’s total refining capacities will be increased by more than 11% to 79.5 million tons per year.
 
The transaction closing is expected at the end of the first quarter of 2011. The transaction amount will reach EUR 205 million, excluding inventory.