US government, Gulf billionaires back Boehly bid for Lukoil assets, FT reports

Key Takeaways

• Todd Boehly, in partnership with UAE’s Allied Investment Partners via Xtellus, is mounting a bid for Lukoil’s ~$22 billion international assets, drawing backing from Gulf and US officials (investing.com).
• Lukoil’s assets span oilfields, refineries, and over 2,000 fuel stations globally, including a 75 % stake in Iraq’s West Qurna 2—the world’s largest oilfield—and retail outlets across Europe and the Americas (investing.com).
• Previous bid strategy involving a swap of frozen Lukoil shares held by US investors was rejected by the US Treasury, though the group is pursuing escalation and licensing to proceed (investing.com).