US EditionPublished • loading... • Updated
Lukoil co-founder Fedun sells his stake back to company, sources say
Leonid Fedun ended his 30-year role at Lukoil by selling a 10% stake worth about $7 billion amid Western sanctions and company share buybacks.
- Selling his stake back to Lukoil, Fedun sold his roughly 10% stake in early 2025, valued at around $7 billion, completing a 30-year involvement.
- Amid Western sanctions, Lukoil began selling foreign assets, and as a Monaco resident, Fedun decided to cut his Russian holdings, prompting the sale back to the company.
- Lukoil said it would cancel shares equal to about 11% of its capital following buybacks, while Leonid Fedun quietly retreated from the spotlight after wealth from 1990s privatisations and West Siberian oil fields.
- Reuters noted valuation uncertainty over the $7 billion figure, Fedun could not be reached for comment, and the deal is a rare example of quietly unwinding ownership implications for Lukoil.
- During the 1993 privatisations, Fedun and Vagit Alekperov transformed West Siberian oil fields, and Lukoil grew amid state consolidation under Vladimir Putin as foreign investors like ConocoPhillips exited.
Insights by Ground AI
14 Articles
14 Articles
Lukoil co-founder Fedun sells his stake back to company, sources say
Leonid Fedun, a co-founder of Lukoil , has sold his roughly $7 billion stake in the Russian company, three sources said and data showed, completing a 30-year ride that made Lukoil a global force but lately saw it shrinking fast under sanctions.
·United Kingdom
Read Full Article
Leonid Fedun, one of Lukoil's cofounders, sold all the shares they had at the oil company for the amount of 7 billion dollars. He had a 10% share in Lukoil, according to The Moscow...
Coverage Details
Total News Sources14
Leaning Left4Leaning Right0Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 44%
C 56%
Factuality
To view factuality data please Upgrade to Premium
