LUKoil may pay higher dividends should chief executive Vagit Alekperov boost his stake in the company using a loan secured by his affiliated company with $4.47 billion in stock, Troika analysts said.
Redruth Investments, linked to Alekperov, pledged 77 million American Depositary Receipts, about 9 percent of LUKoil’s outstanding stock, for a loan of an undisclosed size from UBS and a group of banks. The stake was worth $4.47 billion at the closing price in London on Sept. 22, the day of the transaction.
Alekperov may “push for higher dividends from the company in order to help repay the debt to the bank” if he buys LUKoil stock, Troika analysts said. Vedomosti said Thursday, citing an unidentified person close to the Redruth deal, that the loan is for $2.4 billion.