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The state-owned stake of LUKoil purchased for $ 1,988 bln
29.09.2004 00:00

The company Spring Time Holding Ltd. has acquired a 7,59 per cent state-owned stake of LUKoil for $ 1,988 bln. According to the head of Russian Fund of Federal Property Mr. Kirill Tomashchuk, Spring Time Holding Ltd. is affiliated with ConocoPhillips.
       As an RBC correspondent present at the auction informed the trading for the state-owned stake of LUKoil lasted for three minutes. The first bid belonged to Promsvyazbank suggesting the starting price of $ 1,928 bln. The next bid was made by JSC Promregion Holding that offered $ 1,934 bln. But this was overcome by the company Spring Time Holding Ltd.


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