Russia to sell LUKoil to single investor
Jun 24, 1999 02:00 AM
Russia has said it will sell a 9 % stake in LUKoil to a single investor, which may attract international bidders such
as BP Amoco or Texaco.
However, it is a more likely outcome that the LUKoil subsidiary will buy the shares.
The stake is valued at $ 604.8 mm and is large enough to entitle the buyer to a seat on the board of
directors..
Russia, advised by HSBC Investment Bank, plans to sell the stake by September.
Source: IINX via Iinoil
