Lukoil, Investors Buy $2.4 Billion in Company Shares
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OAO Lukoil, Russia’s largest oil producer not controlled by the state, together with a group of investors bought almost 5 percent of Lukoil’s shares from ConocoPhillips for $2.4 billion, the Moscow-based company said.
Lukoil and the investor group bought 42.5 million shares in the form of American depositary receipts at a price of $56 each. The purchase, arranged by UniCredit Bank AG, was for less than half of an 11.6 percent holding that ConocoPhillips had made available under an option that expired yesterday, Lukoil said in an e-mailed statement.