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Todd Boehly-led consortium nears swap deal for Lukoil's overseas assets

A U.S.-Emirati group plans a cashless securities swap to acquire sanctioned Lukoil's foreign oil assets within weeks, sources say.

newest coverage 7d agosummary written 7d ago11 pieces NewswiresMastodonGoogle News

What to know

  • A Boehly-led U.S.-Emirati consortium is preparing a cashless swap of frozen Lukoil securities for the Russian firm's overseas oil assets, with a deal expected within weeks.
  • The sale process has run over a year since October 2025 U.S. sanctions and once valued the international portfolio at $22 billion, though the value has since deteriorated.
  • The structure — buying shares at a 30-cent-on-the-dollar discount and holding them in escrow — is designed to let sanctions force divestment without handing Lukoil or Moscow a financial windfall.
  • Rival bidders including Exxon Mobil, Chevron, Carlyle and Bernd Bergmair have fallen away, leaving the Boehly consortium, which includes IHC, Al Hail Holding, the Al-Khayat brothers and the U.S. DFC, in the lead.

Todd BoehlyTodd Boehly U.S. billionaire, consortium leaderInternational Holding Company (IHC) Emirati investor in the consortiumU.S. Treasury Sanctions regulator overseeing the saleLukoil Sanctioned Russian oil major whose assets are being soldCarlyle Former bidder for Lukoil's assets

Todd Boehly-led consortium nears swap deal for Lukoil's overseas assets
Moscow Times EN

How it unfolded 1 development · click the chart to see its coverage articlesposts

Peak 8 pieces in two hours at Nov 3, 10 AM; 11 pieces over 8 days (10 articles · 1 post) Nov 3, 10 AM — 8 pieces · 8 articles — Google News 4, Newswires 4Nov 3, 12 PM — 3 pieces · 2 articles · 1 post — Google News 2, Mastodon 1Nov 3, 2 PM — quietNov 3, 4 PM — quietNov 3, 6 PM — quietNov 3, 8 PM — quietNov 3, 10 PM — quietNov 4, 12 AM — quietNov 4, 2 AM — quietNov 4, 4 AM — quietNov 4, 6 AM — quietNov 4, 8 AM — quietNov 4, 10 AM — quietNov 4, 12 PM — quietNov 4, 2 PM — quietNov 4, 4 PM — quietNov 4, 6 PM — quietNov 4, 8 PM — quietNov 4, 10 PM — quietNov 5, 12 AM — quietNov 5, 2 AM — quietNov 5, 4 AM — quietNov 5, 6 AM — quietNov 5, 8 AM — quietNov 5, 10 AM — quietNov 5, 12 PM — quietNov 5, 2 PM — quietNov 5, 4 PM — quietNov 5, 6 PM — quietNov 5, 8 PM — quietNov 5, 10 PM — quietNov 6, 12 AM — quietNov 6, 2 AM — quietNov 6, 4 AM — quietNov 6, 6 AM — quietNov 6, 8 AM — quietNov 6, 10 AM — quietNov 6, 12 PM — quietNov 6, 2 PM — quietNov 6, 4 PM — quietNov 6, 6 PM — quietNov 6, 8 PM — quietNov 6, 10 PM — quietNov 7, 12 AM — quietNov 7, 2 AM — quietNov 7, 4 AM — quietNov 7, 6 AM — quietNov 7, 8 AM — quietNov 7, 10 AM — quietNov 7, 12 PM — quietNov 7, 2 PM — quietNov 7, 4 PM — quietNov 7, 6 PM — quietNov 7, 8 PM — quietNov 7, 10 PM — quietNov 8, 12 AM — quietNov 8, 2 AM — quietNov 8, 4 AM — quietNov 8, 6 AM — quietNov 8, 8 AM — quietNov 8, 10 AM — quietNov 8, 12 PM — quietNov 8, 2 PM — quietNov 8, 4 PM — quietNov 8, 6 PM — quietNov 8, 8 PM — quietNov 8, 10 PM — quietNov 9, 12 AM — quietNov 9, 2 AM — quietNov 9, 4 AM — quietNov 9, 6 AM — quietNov 9, 8 AM — quietNov 9, 10 AM — quietNov 9, 12 PM — quietNov 9, 2 PM — quietNov 9, 4 PM — quietNov 9, 6 PM — quietNov 9, 8 PM — quietNov 9, 10 PM — quietYesterday, 12 AM — quietYesterday, 2 AM — quietYesterday, 4 AM — quietYesterday, 6 AM — quietYesterday, 8 AM — quietYesterday, 10 AM — quietYesterday, 12 PM — quietYesterday, 2 PM — quietYesterday, 4 PM — quietYesterday, 6 PM — quietYesterday, 8 PM — quietYesterday, 10 PM — quietToday, 12 AM — quietToday, 2 AM — quietToday, 4 AM — quiet 1
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  1. 1
    “A consortium led by US billionaire Todd Boehly is preparing a securities swap to acquire sanctioned Russian oil major Lukoil's international assets and a deal is expected within weeks, Reuters reported.”
    — @rvps2001@mastodon.social

    1. 6 outlets first by Globe and Mail, 7d ago · also Global Banking & Finance Review, Reuters, Investing.com News, Moscow Times EN, The Moscow Times · read ↗

    2. 1 outlet Lukoil’s Foreign Assets Headed to US-Led Group in Cashless Deal, Sources Say

      first by Kyiv Post, 7d ago

    • rvps2001@mastodon.social

      🇺🇲🇷🇺 A consortium led by US billionaire Todd Boehly is preparing a securities swap to acquire sanctioned Russian oil major Lukoil's international assets and a deal is expected within weeks, Reuters reported. https://www. reuters.com/business/finance/u s-billionaire-leads-swap-plan-buy-lukoils-overseas-assets-sources-say-2026-11-03/ # usa #…

      rvps2001@mastodon.socialMastodon7d agoview on Mastodon ↗
  2. background

    Carlyle drops out, leaving Boehly consortium in the lead — Private equity group Carlyle withdrew from the bidding last month, leaving the Boehly-led consortium as the frontrunner among more than a dozen earlier bidders including Exxon Mobil, Chevron and Bernd Bergmair.

  3. background

    Reuters reports U.S. slowed the sale to pressure Moscow — Reuters reported that the U.S. deliberately slowed the Lukoil asset sale partly as leverage in negotiations with Russia to end the war in Ukraine.

  4. background

    U.S. Treasury rejects Xtellus-led bid for Lukoil assets — The Treasury rejected an offer from a group including U.S. bank Xtellus Partners, saying Lukoil should not receive a windfall from the sale in shares or cash.

  5. background

    U.S. sanctions Lukoil, triggering forced asset sale — Washington's October 2025 sanctions on Lukoil forced the Russian oil major to begin selling its international oilfields, refineries and petrol stations, starting a sale process that initially valued the portfolio at $22 billion.