Russia's LUKOIL inks deal with U.S. Carlyle to sell international assets unit

BAKU, Azerbaijan, January 29. Russia’s LUKOIL
has signed an agreement with U.S. investment firm Carlyle to sell
LUKOIL International GmbH, its wholly owned subsidiary that holds
the company’s international assets, Trend reports, citing the company.

The transaction excludes LUKOIL’s assets in Kazakhstan, which
will remain under the ownership of the LUKOIL Group and will
continue to operate under its existing licenses.

LUKOIL has emphasized that the agreement with Carlyle is
non-exclusive and contingent upon several conditions, including the
necessary regulatory approvals. Among these is authorization from
the U.S. Treasury Department’s Office of Foreign Assets Control
(OFAC).

In addition, the company indicated that negotiations with other
potential bidders are ongoing.

LUKOIL’s decision to divest LUKOIL International GmbH is driven
by the restrictive measures imposed by several nations on the
company and its subsidiaries.