Russia To Make Decision on Lukoil Stake Sale Next Week
State officials will decide whether to sell the state's 5.9% stake in OAO Lukoil on July 31, Alexander Braverman, first deputy property minister, said Friday, according to Interfax. The State Property Ministry, the Russian Fund for Federal Property and Lukoil are currently holding a road show in London for the sale of General Depositary Receipts for the country's largest oil producer, and are to visit Boston and New York by July 29.
An official from the Russian delegation said Thursday that the sale of the stake might be postponed "if the situation on the markets gets worse." The government has said it values the state's stake at just under $780 million.