Carlyle Says Lukoil International Assets Deal Has Expired

Seeking Alpha·8 Oct 2026·

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Carlyle Group said its agreement to buy most of the international assets of Russian oil company Lukoil has expired, Bloomberg reported Thursday. The agreement, reached earlier this year, lapsed over the summer, and the private equity group is no longer actively pursuing Lukoil's assets, the company said in response to a Bloomberg request. Lukoil is the most diverse of Russia's large oil companies, with stakes in refineries in Europe, significant holdings in oil fields from Iraq to Kazakhstan, and a global network of fuel stations. The Financial Times reported last month that an investor group led by U.S. billionaire Todd Boehly was in talks to take a stake in Lukoil's foreign assets, in a deal that would see the U.S. government, through the U.S. International Development Finance Corporation, take a roughly 15% stake without any upfront cash investment. Most of the ownership would go to a group of Middle Eastern investors, including entities tied to the royal family in Abu Dhabi and two billionaire Qatari brothers who are business partners with President Trump's son-in-law Jared Kushner, The New York Times reported.

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