ASTANA, April 23 (RIA Novosti) - LUKoil Overseas, the overseas oil and gas production arm of LUKoil [RTS: LKOH], has completed a $980-million deal to sell a 50% stake in Caspian Investments Resources Ltd. to Mittal Investments, the company said Monday.
Caspian Investments Resources Ltd. controls oil production assets in five oil regions in Kazakhstan.
"Caspian Investment Resources Ltd., which was LUKoil Overseas' 100% subsidiary, has become a join venture of LUKoil Overseas and Mittal Investments, where each holds 50%," the company's press service said.
Mittal Investments, one of the investment arms of the Mittal group, has taken over 50% of Caspian Investments Resources Ltd.'s outstanding debt (about $175 million).
