Enel CEO awaits word on sale of Russian unit to Lukoil

CERNOBBIO, Italy (Reuters) – Italian utility Enel has no indication on when it might 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 essential 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 cope with 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 checklist of corporations 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 accumulate the asset.

(Reporting by Elvira Pollina and Valentina Za; Modifying by Keith Weir)