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Erg To Sell 11% ISAB Stake For $281M

Erg is selling an 11% stake in its ISAB refinery to its Russian partner, Lukoil.

    Erg is selling an 11% stake in its ISAB refinery to its Russian partner, Lukoil,Reutersreports. The Italian refiner will obtain a total of about $281.2 million from the sale.

    After the sale, Lukoil will own 60% of ISAB while Erg will manage the remaining 40%. As part of the deal, ISAB will continue to be jointly managed by the two groups.


    Click here for the story fromReuters.

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