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2015-09-29 20:45:00

THE NEW RUSSIAN EMPIRE - 7

THE NEW RUSSIAN EMPIRE - 7

Russian billionaire Mikhail Fridman's LetterOne fund has asked Britain to delay an October deadline to sell its North Sea assets after a first round of offers disappointed, several sources said.

The British Energy Ministry in April gave Fridman six months to dispose of oil and gas fields LetterOne had acquired from German utility RWE or see the their licences revoked as the West tightened sanctions against Moscow over its role in Ukraine.

The sale process, which is advised by Morgan Stanley, has attracted interest from several buyers, including private equity funds which have built up resources over the past…

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Tags: LETTERONE, BRITAIN, OIL, GAS

Chronicle:

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