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Putin permits Hong Kong-based Group to buy shares from Lukoil's Cypriot beneficiary

The decision was made in accordance with the decree "On the application of special economic measures in the financial and fuel and energy sectors in connection with the unfriendly actions of certain foreign states and international organizations"

MOSCOW, October 31. /TASS/. Russian President Vladimir Putin has authorized Hong Kong-based Creital Group to purchase a 50% stake in Saturn Management Company, currently owned by Lukoil's Cypriot beneficiary, Cyproman Services Limited. The order, signed by the head of state, was published on the portal of legal acts.

The decision was made in accordance with the decree "On the application of special economic measures in the financial and fuel and energy sectors in connection with the unfriendly actions of certain foreign states and international organizations."

"To authorize the acquisition by Creital Group Limited of a 50% stake in the authorized capital of Saturn Management Company, a limited liability company, owned by Cyproman Services Limited," the document states.

Cyproman Services Limited, registered in Nicosia, was listed among Lukoil's minority shareholders until at least 2020 and operated the company's long-term incentive program for key employees. Saturn Management Company is involved in real estate transactions in Moscow.

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