Enel CEO awaits word on sale of Russian unit to Lukoil

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“Lukoil has put in the necessary request … and we’re awaiting a response,” Starace said during a press briefing at a business conference in northern Italy.

Enel announced in June it had reached a deal with Russia’s Lukoil and investment fund Gazprombank-Frezia to sell its 56.43% stake in Enel Russia for around 137 million euros, which will be paid at closing.

Russia put Enel’s local subsidiary on a preliminary list of companies that investors from so-called unfriendly countries are banned from selling this year, unless they get special presidential permission.

Moscow later introduced a further requirement, demanding that the prospective buyer also seeks authorisation to acquire the asset.