KIEV, March 4 - Russian oil major Lukoil will sell its 99.6% stake in Odessa oil refinery to Ukrainian gasoline trader Eastern European Fuel and Energy Company, or SEPEK, Lukoil announced in a statement on Monday.

The deal, whose value was not disclosed, is supposed to be closed by June 1, Lukoil said.

“Lukoil made decision to sell Odessa oil refinery as part of a plan to restructure its overseas oil refining assets,” the Russian company said in a statement.

The report comes days after a media report in Ukraine, citing a person familiar with the matter, said that a Ukrainian gas trader Gaz Ukrayina was buying Odessa oil refinery for an estimated $200 million.