Russia’s Lukoil accepts Gunvor bid for international assets

Russian oil company Lukoil has accepted an offer from Switzerland-based Gunvor Group to acquire Lukoil International, the subsidiary responsible for Lukoil’s international assets. Both companies have already agreed on the principal terms of the transaction, meaning Lukoil would not negotiate with other potential buyers. The final agreement will require Gunvor to secure permission from the US Office of Foreign Assets Control (OFAC), along with any other necessary licences, permits and authorisations in re ...