LUKoil Share Buyback

LUKoil and investors led by UniCredit paid $2.4 billion to buy about 5 percent of the oil producer from Conoco­Phillips, the company said Friday.

“The transaction is funded by the group’s internal resources, without increasing the company’s total debt,” LUKoil vice president Leonid Fedun said. A total 42.5 million shares were purchased, LUKoil said.

(Bloomberg)


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