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NK Lukoil OAO in Talks with Tatneft' OAO to Acquire 50% in KalmTatneft-Interfax


Monday, 27 May 2013 05:39am EDT 

Interfax reported that independent Russian oil producer NK Lukoil OAO (Lukoil) is in talks to buy half of Kamlykia-based KalmTatneft from Tatarstan-based Tatneft' OAO, Lukoil President Mr. Vagit Alekperov told Interfax. Russia's Federal Anti-Monopoly Service (FAS) has already granted Lukoil's request to acquire half of the voting shares in Elista-based KalmTatneft. However, Lukoil had not previously disclosed with whom it was conducting negotiations. According to Tatneft's financial statement to Russian Accounting Standards (RAS) for Q1 2013, it owns 50% of KalmTatneft. The other half belongs to OJSC Kalmneft, which in turn belongs to the Land Property Ministry of Kalmykia. Lukoil's press service declined to comment. 

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