Statement re Completion of Assets Sale
LUKOIL OVERSEAS AND MITTAL INVESTMENTSCOMPLETE SALE OF OIL PRODUCING ASSETS IN KAZAKHSTAN
LUKOIL Overseas and Mittal Investments have completed the sale of a 50% share in Caspian Investments Resources Ltd.
Caspian Investments Resources Ltd., formerly a 100% subsidiary of LUKOIL Overseas, has now become a joint venture between LUKOIL Overseas and Mittal Investments with each company owning 50%.
The value of the deal between LUKOIL Overseas and Mittal Investments is US$980 million. In addition, Mittal Investments has assumed a commitment to fund 50% of the outstanding debt of Caspian Investments Resources Ltd., an amount equal to approximately US$175 million.