ERG SpA announces closing of put option on remaining 20 pct stake in ISAB to NK Lukoil OAO


Monday, 30 Dec 2013 11:43am EST 

ERG SpA:Says the closing with regard to exercise of the put option on the remaining 20 pct stake in ISAB Srl took place on Dec. 30.Says the transaction gave rise to a cash in of 426 million euros, which takes into account the inventory value and the settlement of certain environmental matters pertaining to the refinery.Says, as a result of this operation, ISAB Srl is wholly owned by NK Lukoil OAO.Says in this transaction the firm DLA Piper has acted as legal advisor.