Core Insights - Carlyle is in discussions to acquire Lukoil's international operations, following Gunvor's previous attempt to purchase the assets which was halted due to U.S. government intervention [1][2] - The negotiations are in the early stages, with Carlyle applying for a license necessary for the acquisition, and due diligence is expected to occur soon due to impending sanctions against Lukoil [2] - Lukoil is a significant player in the global energy market, producing approximately 2% of the world's oil and having extensive operations in various regions, including the Middle East and Latin America [3] Group 1 - Carlyle's potential acquisition of Lukoil's international operations is a response to the geopolitical climate and U.S. sanctions [1][2] - Gunvor's initial offer of $22 billion for Lukoil's assets was rejected after U.S. Treasury's strong opposition, labeling Gunvor as a "Kremlin puppet" [4] - The U.S. sanctions against Lukoil are set to take effect on November 21, which will complicate any transactions involving U.S. financial systems [2][3] Group 2 - Lukoil's international business is under scrutiny as the company seeks to divest in light of increased pressure from the U.S. government regarding its operations in Russia [3] - The sanctions target Lukoil and Rosneft, which together represent about 50% of Russia's oil exports, indicating the strategic importance of these companies in the global oil market [3]
Carlyle Eyes Lukoil Assets After Gunvor's $22 Billion Deal Collapses