Middle East Economic Survey
Lukoil Overseas Buys 65% Of Nelson Resources
Lukoil Overseas, the foreign operating arm of Russias Lukoil, on 14 October announced that it had acquired 64.96% of Canadas Nelson Resources. It plans to acquire the remaining 35% following a meeting of Nelsons shareholders in November, when they are expected to endorse the sale to Lukoil for approximately $2bn. If 75% of Nelson shareholders approve the offer, Lukoil will acquire 100%...