MOSCOW, December 12 (RIA Novosti) - LUKoil Overseas, the overseas oil and gas production arm of LUKoil [RTS: LKOH], has agreed to sell a 50% stake in Caspian Investments Resources Ltd. to Mittal Investments, the company said Tuesday.
After the $980 million deal is closed in early 2007, Caspian Investment Resources Ltd. will become a joint venture.
Mittal Investments, one of the investment arms of the Mittal group, will take over 50% of Caspian Investments Resources Ltd.'s outstanding debt (about $160 million).
Caspian Investments Resources Ltd. controls oil production assets in five oil regions in Kazakhstan.
