I agree Lukoil would not want just 13% but Woody has already signalled they plan to sell down some % later.
Lukoil once part of the JV can pre-empt whatever WPL try to sell down.
If they throw down CNE x 1.5 they might secure it .... or force WPL to stretch finance and stump up the remainder of the capital for this project till farm-down.
No guarantee Senegal would approve any of this but they didnt kill the CNE transaction.....
Ann: Suspension from Official Quotation, page-42
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