Putin allows Lukoil to buy UROC Limited’s 7.4% in EL5-Energo

MOSCOW, Dec 4 (PRIME) -- President Vladimir Putin has allowed Russian oil major Lukoil to buy UROC Limited’s 7.4% stake in power producer EL5-Energo, previously known as Enel Russia, according to a ruling published late on December 1.

According to the website of EL5-Energo, Lukoil already owns 56.44% in the company, and the deal could drive its stake to 63.84%. LLC PPIT-7 owns 5.54% in EL5-Energo, and minority shareholders hold the remaining combined stake of 30.62%.

Enel closed the sale of its 56.43% stake in the power producer to Lukoil and investment fund Gazprombank-Frezia for a total of 137 million euros in mid-October. EL5-Energo owns three power stations running on natural gas and two windmill farms with a combined installed power capacity of 5.9 gigawatts and a combined thermal power production capacity of 1.7 gigacalories per hour.

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