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Abu Dhabi conglomerate International Holding Company (IHC) has informed the U.S. Treasury that it is interested in acquiring Lukoil’s foreign assets, the company said in response to a Reuters inquiry. IHC joins a growing list of potential bidders for the Russian oil group’s international portfolio, including oil majors Exxon Mobil and Chevron and U.S. private equity firm Carlyle. Lukoil’s overseas assets were put up for sale after Washington imposed sanctions on the company. Prospective bidders have until Dec. 13 to engage with Lukoil, and any transaction will require U.S. approval. Asked whether it had notified the U.S. Treasury of its interest, IHC said: “Yes, we have expressed interest in Lukoil’s foreign assets.” The company declined to comment further.

Abu Dhabi’s IHC interested in Lukoil’s foreign assets

Abu Dhabi conglomerate International Holding Company (IHC) has informed the U.S. Treasury that it is interested in acquiring Lukoil’s foreign assets, the company said in response to a Reuters inquiry. IHC joins a growing list of potential bidders for the Russian oil group’s international portfolio, including oil majors Exxon Mobil and Chevron and U.S. private equity firm Carlyle. Lukoil’s overseas assets were put up for sale after Washington imposed sanctions on the company. Prospective bidders have until Dec. 13 to engage with Lukoil, and any transaction will require U.S. approval. Asked whether it had notified the U.S. Treasury of its interest, IHC said: “Yes, we have expressed interest in Lukoil’s foreign assets.” The company declined to comment further.

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