OFAC extends licence as EN+ fights to keep London GDRs listed

By Sam Kerr
02 May 2018

The US Treasury, through the Office of Foreign Assets Control, has issued a new licence to US holders of debt or equity in EN+, Rusal and Gaz Group. It gives US persons until June 6 to divest their holdings in these companies, instead of the original deadline of May 7.

EN+ controls Rusal and owns a number of hydroelectric assets. It floated in London and Moscow in November.

General Licence 13A supersedes the earlier licence, General Licence 13, which had previously set a deadline of May 7 for US persons to divest their holdings in Rusal and EN+. The ...

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