Mittal Steel to pay $US 1 BLN for Lukoil's subsidiary
![Mittal Steel to pay $US 1 BLN for Lukoil's subsidiary](https://mf.b37mrtl.ru/files/oldfiles/business/mittal-steel-to-pay-us-1-bln-for-lukoils-subsidiary/466e8eb62ddfb.si.jpeg)
Leading international steel company Mittal is buying into Russian oil. Its investment arm is buying 50% of Russian oil company Lukoil's Caspian Resources subsidiary for nearly $US 1 BLN.
Mittal will become an equal partner with Lukoil in the project, and take on more than $US 150 MLN in debt.But analysts are questioning the profitability of the move for the Russian company. Lukoil is selling-off half of an asset it bought a year ago, for close to the purchase price.
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