Caspian, formerly a 100% subsidiary of Lukoil Overseas, is now a 50/50 joint venture between Lukoil Overseas and Mittal Investments with oil producing assets in Kazakhstan. The value of the deal is US$980 million.
Mittal Investments has also assumed a commitment to fund 50% of the outstanding debt of Caspian Investments Resources Ltd.--an amount equal to approximately US$175 million.
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