5 Mar 2014 18:04

Alekperov firm pledges Lukoil ADRs for UBS loan, buys $50 mln in stock

MOSCOW. March 5 (Interfax) - Lihou Group Limited, which is connected with Lukoil chief Vagit Alekperov, has pledged 3,943,607 ADRs representing shares in the oil company to secure a loan arranged by UBS, Lukoil said in a statement.

The number of secured ADRs may vary depending on circumstances but at no time will be more than 4,507,542. Lihou retains the right to vote with the company's shares underlying the ADRs, as well as the right to receive dividends.

Lukoil also said Lihou had bought 897,665 Lukoil ADRs for $50 million in transactions that took place on February 27 and 28.