Russia’s Lukoil to sell diamond unit to Otkritie for $1.45 bln

MOSCOW, Dec 2 (PRIME) -- Russian oil major Lukoil has signed an agreement to sell its diamond producing unit Arkhangelskgeoldobycha to Otkritie Holding, the parent company of Otkritie Financial Corporation (FC) Bank, for U.S. $1.45 billion, Lukoil said in a statement on Friday.

The company plans to close the deal in January–March 2017 after receiving approvals from the state.

Arkhangelskgeoldobycha produces diamonds at the Grib deposit in the Arkhangelsk Region.

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