Redruth Sells $1.7B Lukoil Notes

A fund has sold Lukoil Holdings’ equity-linked notes worth $1.75 billion, The Wall Street Journal reports. Redruth Investments, a fund owned by Vagit Alekperov, the CEO of Lukoil, sold 25 million notes on March 15, 2011.

The notes have been issued by UniCredit Bank relating to ADRs representing ordinary shares of the company. The buyer of the notes is not known, adds Reuters.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.