US EditionUS bank floats plan to repay US investors via Lukoil asset sale: Reuters
The cashless swap of Lukoil's $22 billion international assets aims to repay U.S. investors who lost billions after sanctions froze their holdings, sources said.
- On Dec 8, Xtellus Partners told the U.S. Treasury it would use proceeds from Lukoil's assets to repay U.S. investors and proposed a cashless swap for securities and assets.
- Western sanctions, including U.S. measures against Lukoil and Rosneft, and cash transfer restrictions have blocked sales, while U.S. asset managers lost billions after freezing and writing off Russian holdings.
- The bank is advising American billionaire Todd Boehly and UAE investor group Allied Investment Partners, with Lukoil's estimated $22 BILLION of international assets attracting interest from Carlyle and likely to be sold to energy firms if recovered.
- With a December 13 deadline looming, buyers of assets must get Lukoil's approval and clear the sale with the U.S. Treasury, while Lukoil seeks an extension to finalize deals.
- Xtellus Partners emerged from a management buyout of VTB Capital's U.S. operations, while Lukoil's overseas assets face disruptions from Iraq to Finland and index providers FTSE Russell and MSCI removed Russian stocks after the invasion.
8 Articles
8 Articles
Xtellus Proposes Using Global Lukoil Assets to Settle U.S. Investor Losses
New York-based investment bank Xtellus Partners has proposed that proceeds from the sale of Lukoil's foreign assets be used to compensate American investors who lost money after their Lukoil stock holdings were frozen following Russia’s war in Ukraine. Leading U.S. asset managers such as Goldman Sachs, Blackrock and JP Morgan lost billions of dollars through writing off their Lukoil stocks holdings following Russia’s invasion of Ukraine in 2022.…
US Bank Floats Plan to Repay US Investors Via Lukoil Asset Sale, Sources Say
U.S. investment bank Xtellus Partners has proposed to the U.S. Treasury that proceeds from the sale of Lukoil's foreign assets be used to repay American investors who lost money when Russia's war in Ukraine froze their Lukoil stock holdings, sources said.
US bank floats plan to repay US investors via Lukoil asset sale, sources say
U.S. investment bank Xtellus Partners has proposed to the U.S. Treasury that proceeds from the sale of Lukoil's foreign assets be used to repay American investors who lost money when Russia's war in Ukraine froze their Lukoil stock holdings, sources said.
An American bank has proposed to the US Treasury that strict income from the sale of Lukoil's foreign assets be used to eliminate US investors who lost money when the Russian war in Ukraine frozen their shares in Lukoil.
The American Investment Bank Xtellus Partners has proposed to the US Treasury that fast income from the sale of Lukoil's foreign assets be used to defeat US investors who lost money when the Russian war in Uc
Coverage Details
Bias Distribution
- 80% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
