PJSC LUKOIL has received an offer from Gunvor Group Ltd. to acquire LUKOIL International GmbH (a 100% subsidiary of LUKOIL, which owns the foreign assets of the LUKOIL Group). The key terms of the deal were previously agreed upon by the parties, LUKOIL said.
LUKOIL, for its part, accepted the offer, pledging not to negotiate with other potential buyers.
The conclusion of a binding agreement on the transaction is subject to the fulfillment of suspensive conditions, including obtaining by the buyer the permission of the Office of Foreign Assets Control of the U.S. Treasury (OFAC), as well as, if necessary, other licenses, permits and approvals in other countries. If necessary, the parties plan to apply for an extension of the current license issued by OFAC, as well as other permits in order to ensure uninterrupted operational activities of international assets and their banking services for the period until the completion of the transaction.
The sale of LUKOIL International GmbH is related to the introduction by individual states of restrictive measures against PJSC LUKOIL and its subsidiaries.
Gunvor Group is a multinational energy trader. The headquarters is located in Geneva (Switzerland) with offices in Singapore, Houston, Stamford, London, Calgary and Dubai.
LUKOIL is one of the largest Russian oil companies. The company is engaged in the exploration, production and refining of oil and natural gas, as well as the sale of oil and petroleum products. The headquarters is located in Moscow (Russia). The company carries out exploration and production in a number of countries around the world, with major projects concentrated in Russia, Central Asia and the Middle East.
On August 7, 2024, the AK&M rating agency confirmed the highest level of the LUKOIL Group's non-financial (in the field of sustainable development) reporting.
LUKOIL is also among the leaders of the fifth carbon footprint rating and the eighth social efficiency rating of the largest Russian companies.
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