Italy Set to Approve Ludoil’s Acquisition of Sicilian Oil Refiner ISAB
Government Approval and Deal Details
Official Statement from the Energy Minister
ROME, June 4 (Reuters) - Italy's government will give its green light to a planned acquisition of Sicilian oil refiner ISAB by Ludoil, the country's energy minister told Reuters on Thursday.
Finalisation of the Approval Process
"Yes, the last details are being finalised," Minister Gilberto Pichetto Fratin said when asked whether the government would clear the deal.
Parliamentary Context
He was speaking in the lower house of parliament.
Background of the Acquisition
Italy's Ludoil last month agreed to buy Sicilian oil refiner ISAB from Cypriot private equity fund G.O.I. Energy, which was subject to several conditions including approval from the Italian government under its so-called golden power regime.
(Reporting by Angelo Amante, editing by Alvise Armellini)
