Enel CEO awaits word on sale of Russian unit to Lukoil

Individuals stroll exterior the ENEL vitality firm retailer in Niteroi close to Rio de Janeiro, Brazil, July 14, 2022. REUTERS/Ian Cheibub/File Photograph

CERNOBBIO, Italy, Sept 3 (Reuters) – Italian utility Enel (ENEI.MI) has no indication on when it will probably shut the sale of its Russian unit, CEO Francesco Starace stated on Saturday, including potential purchaser Lukoil had sought the mandatory authorisation.

“Lukoil has put within the needed request … and we’re awaiting a response,” Starace stated throughout a press briefing at a enterprise convention in northern Italy.

Enel introduced in June it had reached a take care of Russia’s Lukoil and funding fund Gazprombank-Frezia to promote its 56.43% stake in Enel Russia for round 137 million euros, which shall be paid at closing.

Russia put Enel’s native subsidiary on a preliminary listing of firms that traders from so-called unfriendly nations are banned from promoting this 12 months, until they get particular presidential permission.

Moscow later launched an extra requirement, demanding that the potential purchaser additionally seeks authorisation to amass the asset.

Reporting by Elvira Pollina and Valentina Za
Modifying by Keith Weir

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