Carlyle Abandons Purchase of Lukoil's Foreign Assets

American investment firm Carlyle announced that the agreement to purchase the majority of the foreign assets of the Russian oil company Lukoil has lapsed. The arrangements made earlier this year ended in the summer, and Carlyle no longer requires the acquisition of these assets. Lukoil's subsidiary, Lukoil International GmbH, indicated in its annual report that the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) did not approve the January agreement with Carlyle, leading to its cancellation at the end of July. Carlyle confirmed that the deal has been terminated and the company is not actively seeking ways to acquire these assets. It was previously reported that a group of investors led by Todd Boehly was negotiating to purchase a stake in Lukoil's foreign assets, receiving support from the U.S. government and influential investors from the Persian Gulf. Lukoil, the second-largest oil producer in Russia, put its foreign business up for sale following the imposition of U.S. sanctions. The value of Lukoil's foreign business is estimated at 1.67 trillion rubles. On October 22, the U.S. imposed new sanctions against Lukoil and Rosneft, further complicating the situation.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.