Core Insights - The U.S. Treasury Department has rejected a bid led by Xtellus Partners for the overseas assets of Russian oil company Lukoil [1][4][5] - Lukoil expressed willingness to sell its overseas assets in October, following U.S. sanctions against it and its competitor Rosneft, aiming to facilitate peace negotiations between Russia and Ukraine [5][6] - Over a dozen companies submitted bids for Lukoil's assets, valued at approximately $22 billion, which include upstream oil and gas projects, refineries, and over 2,000 gas stations across Europe, Central Asia, and the Middle East [5][6] Bid Details - Xtellus proposed a non-cash transaction to swap U.S. investors' Lukoil securities for Lukoil's global assets, returning the securities to Lukoil in exchange for its overseas assets [6] - Lukoil reportedly preferred Xtellus's proposal, but its implementation is challenging [2][6] - The consortium led by Xtellus includes billionaire Todd Boehly and Allied Investment Partners, composed of UAE investors [2][6] Regulatory Challenges - The U.S. Treasury informed the consortium that they were not permitted to use sanctioned securities in the transaction, which led to the rejection of their proposal [2][6] - The consortium plans to appeal the decision to higher authorities and seek a license to use the securities [2][6] - Since Russia's invasion of Ukraine in 2022, a significant amount of Lukoil shares held by U.S. investment funds have been written off and frozen, resulting in billions of dollars in losses for investors [2][6] Negotiation Timeline - The deadline for negotiations with Lukoil has been extended to January 17 [3][6]
美国财政部拒绝Xtellus收购卢克石油海外资产的提议