Expansion of Rosneft: the state-owned company may become a co-owner of Lukoil

According to Forbes reports, Leonid Fedun wants to sell his 9.77% of Lukoil. One of the potential buyers is state-owned Rosneft.
30.10.2014
Forbes
Origin source
Co-owner of "Lukoil" Leonid Fedun plans to sell its stake in the oil company. This Forbes told several sources: a man who knows this from the staff of "Lukoil", an employee of the contracting company "Lukoil", as well as a person close to "Rosneft". According to the latter, "Rosneft" is in talks with Fedun about buying its stake.

Managers of "Lukoil", including the company's president Vagit Alekperov, constantly increasing their share. Alekperov directly and indirectly controls 22.54%. As of mid-summer, Fedun owned 9.77% of the shares. Tuesday, October 29 on the Moscow stock exchange "Lukoil" worth 1.713 trillion rubles, therefore, Fedun package is estimated at 167.4 billion rubles. More about 2% - in other managers. 11.25% - near the "Lukoil".

Several Forbes interlocutors claim that Fedun has long wanted to get out of the company. One of them first heard about this about six months ago. Another notes that "Rosneft" is not the only one with whom Fedun can negotiate. Whether such a proposal received from Fedun and Alekperov other managers "Lukoil & raquo ;, unknown. On Forbes questions addressed Alekperov and Fedun, a representative of "Lukoil" did not answer. Forbes Request a foster Fedun remained unanswered.

In June, in an interview with "Vedomosti" Alekperov said that he Fedun with no shareholders' agreement. "I've never been a supporter of the agreements, which restrict my friends or partners. It is their earned money ", - Alekperov said. According to him, Fedun, if desired, can sell their shares to anyone, but Alekperov hopes that if someone from the top management decides to sell its stake, it will inform the president of the company in advance.

"Lukoil" tops the list of Forbes' 200 largest private companies of Russia - 2014 ".

One of the interlocutors Forbes says that "Rosneft" can not be limited to the purchase of shares and Fedun further increase the share of "Lukoil". The fact that "Lukoil" interested in "Rosneft", of Forbes also said an investment banker, for which data are already shareholders of the private company could receive proposals from "Rosneft". The question is, Does the proposal itself Alekperov, representative of "Lukoil" also left unanswered.

"Rosneft" representative told Forbes, that the company does not comment on market rumors.

Against the "Rosneft" are the US and EU sanctions that restrict the possibility for companies to borrow money in the western markets. In the summer it became known that "Rosneft" has asked the government for financial support - the company requested from the National Welfare Fund 1.5 trillion rubles. On the Finance Minister Anton Siluanov said last week that the company asks for more than 2 trillion rubles, but the government is likely to help the company to a smaller amount. RBC, citing sources reported that "Rosneft" requests 2.4 trillion rubles.

"Lukoil" has also suffered from the sanctions - US companies are prohibited from selling (grant) "Lukoil" technology for exploration and production in deepwater projects in offshore projects in the Arctic, on the development of shale reserves projects. In September Alekperov complained about the business meeting with Prime Minister Dmitry Medvedev, that certain types of careudovaniya required for oil, produced only in the United States and maintained exclusively by American personnel.