The PJSC Lukoil Corporation has formalized an agreement with the U.S. investment firm Carlyle for the transfer of Lukoil International GmbH. This strategic maneuver seeks to mitigate the impact of the commercial restrictions that condition the operation of its subsidiaries in several foreign markets.
The commercial deal between Lukoil and Carlyle
Initially, it should be noted that this purchase and sale agreement excludes operations located in Kazakhstan. These assets will remain under the direct control of the parent company and will continue their normal activities under the corresponding licenses. licenses.. Furthermore, the agreement signed is non-exclusive. The oil company’s management keeps negotiation channels open with other potential interested buyers while the offer presented by the North American fund is being evaluated in compliance with the company’s internal protocols.
The sale is subject to clearance by the Office of Foreign Assets Control(OFAC) of the U.S. Treasury Department. This progress is essential for the transfer of the property to be carried out within the regulatory compliance parameters required by international authorities in the context of current regulatory measures.
Finally, the company has reiterated that the primary objective is to ensure the stability of its energy portfolio in the face of a complex global environment. The next few months will be decisive to observe the progress of the governmental authorizations required for the closing of the operation. The market remains attentive to the resolution of these administrative and legal procedures, which will determine the final reconfiguration of the organization’s international presence.
Source and photo: Lukoil