The Lukoil Group will hold a 100% interest in Lukoil Power Generation. In the future Lukoil intends to develop its power generation business. The group’s strategic development program for 2008-17 envisages the establishment of a separate power engineering business segment in the company.
Development in this area is being considered as one of the major factors that will contribute to Lukoil’s capitalization growth.
The acquisition of the power assets will be paid for with 23.55 million registered ordinary shares of Lukoil and with cash. The acquisition is expected to be completed before June 1, 2008.
