Closing for exercise of put option on 20% of ISAB

abarrelfullabarrelfull wrote on 04 Sep 2012 15:04
Tags: erg europe itlay lukoil refinery

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The closing for the transaction concerning ERG's exercise of a put option on a 20% stake in the share capital of ISAB S.r.l. (see press release dated 31 January 2012) was perfected today.

The payment made by LUKOIL to ERG amounted to Euro 485 million, including the inventory value. As a result of the transaction, LUKOIL holds an equity interest of 80% in ISAB S.r.l., with ERG holding the remaining 20%.

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