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Both LUKOIL and Total are vertically integrated oil and gas companies, while TRN is a Netherlands-based petroleum refining company.
Update on August 4, 2009:
LUKOIL has received clearance from the European Commission to acquire a 45% stake in TRN from Total.
Announcement (June 19, 2009):
LUKOIL has entered into an agreement to acquire a 45% stake in TRN from Total for approximately $725 million, including inventory.
The transaction is expected to close before the end of 2009.
Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to LUKOIL. Freshfields Bruckhaus Deringer LLP is acting as legal advisor to Total.
Deal Value (US$ Million) 725 Deal Type Acquisition Sub-Category Minority Acquisition Deal Status Completed: 2009-09-01
Deal Participants
Target (Company) Total Raffinaderij Nederland N.V. Acquirer (Company) LUKOIL Oil Company Vendor (Company) Total S.A.
Deal Rationale
The transaction expands LUKOIL's foothold in Northwest Europe and expands its refining presence in western Europe.
% Acquisition 45%
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