PJSC LUKOIL (MISX:LKOH) signed an agreement to acquire 26.9% percent stake in PJSC Enel Russia from Enel SpA (BIT:ENEL) on June 16, 2022. In a related transaction, AAA Capital Management agreed to acquire a 29.5% stake in in PJSC Enel Russia from Enel SpA on June 16, 2022. The combined consideration comprises of approximately €140 million.

PJSC Lukoil will receive 9.5 billion shares in Enel Russia as a result of the deal. Enel Russia's charter capital is divided into 35.37 billion ordinary shares, meaning that Lukoil will own 26.9% of shares. The completion of this operation is scheduled for the third quarter of this year and is subject to a series of conditions, such as the approval of the Russian authorities competent in foreign investment and antitrust.

As of September 20, 2022 government approved the deal.