Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

CASPIAN

Lukoil Completes Acquisition Of Nelson Resources

Canadas Nelson Resources has been acquired by Caspian Resources Investment, a wholly-owned subsidiary of Lukoil Overseas Holdings, the foreign operating arm of Lukoil. The sale was approved by 97% of Nelson shareholders at a special meeting in London on 2 December. The value of the transaction was put at around $2bn. After the vote, Nelson said the transaction would close on 5...