Erg completes exit from the refining sector. The board of directors of the industrial group in the hands of the Garrone family approved today the exercise of the put option for the last 20% stake held in the Isab refinery, located in Priolo Gargallo in Sicily.
At the end of the operation (closing is expected by the end of the year), the plant will be 100% controlled by the Russians of Lukoil, which had already risen to 80% last September. The equivalent value of the sale is 400 million euros, excluding the warehouse.
The news was welcomed by the Stock Exchange. In the late morning, on a very positive day for the Italian stock exchange, Erg shares gained around 3% in Piazza Affari.
