A consortium headed by American billionaire Todd Boehly is reportedly preparing a securities swap to acquire international assets of the sanctioned Russian oil company Lukoil. According to four sources close to the transaction, the consortium’s bank has purchased billions of dollars’ worth of frozen Lukoil securities from Western investment funds. These securities are to be exchanged for foreign assets owned by Lukoil, a move that would allow the consortium to gain control of the company’s overseas holdings while sidestepping sanctions that have frozen Lukoil’s assets in the West. The deal is expected to be completed within a few weeks, although no official comment has yet been issued by any of the parties involved.
Article source: Večernji List | Image credit: Večernji List