Key facts
- Carlyle Group is no longer actively pursuing a deal for Lukoil's international assets.
- The assets were put up for sale last year following sanctions on Russia.
- Carlyle had initially agreed to buy the assets on January 29.
- The portfolio was initially valued at around $22 billion.
Carlyle Group has withdrawn its pursuit of Lukoil's international assets, a spokesman for the firm confirmed on Friday. The assets were put up for sale last year following sanctions imposed by the United States over Russia's war in Ukraine.
Carlyle had initially agreed on January 29 to buy Lukoil's assets, excluding those in Kazakhstan. The fund was reportedly in talks to partner with Abu Dhabi-based funds Mubadala, XRG and IHC, as well as the US Development Finance Corporation for the deal.
The Lukoil portfolio, initially valued at around $22 billion, had attracted interest from at least a dozen companies, including Exxon Mobil and the former owner of Pornhub, Bernd Bergmair. The Financial Times reported last month that US billionaire businessman Todd Boehly secured the backing of the US government and Gulf power brokers with ties to Donald Trump's family to bid for Lukoil's international assets.