08/24/2021 | Press release | Distributed by Public on 08/24/2021 05:41
Moscow, Russia - November 12, 2020 - Rostelecom Group (MOEX: RTKM, RTKMP; OTCQX: ROSYY), the largest integrated digital service provider in Russia, today announces that it has signed a legally binding agreements to acquire 50.1% LUKOIL INFORM, the telecommunication business of LUKOIL - one of the largest vertically integrated oil and gas companies in the world. Under the agreements, at the time of signing, Rostelecom will acquire 50.1% shares in the company, with call/put options to increase Rostelecom's participation to 100% in 2023. The total deal value will depend on LUKOIL-INFORM's financial performance and will amount to no less than RUB 2 billion, including the exercising the call/put options.
LUKOIL-INFORM operates the telecommunication infrastructure for oil and gas exploration, production, processing, marketing and distribution across all LUKOIL's branches in 53 regions in Russia. In line with the agreement, LUKOIL will retain the existing contractual commitments for LUKOIL-INFORM over the next five years. The deal will further solidify Rostelecom's B2B offering through the formation of a competence center for digital development in oil and gas sector. This in turn will open up further opportunities to promote Rostelecom's comprehensive digital services across LUKOIL's wider corporate footprint.
Further information is available at https://www.company.rt.ru/en/ir/news_calendar/.