Lithuania government agreed to let Russian oil company “Yukos” buy controlling block of shares (53.7%) in Mazeikiu Nafta. Such policy was led by the decision of the US company Williams to withdraw because of the financial troubles.
At the same time Lithuania government, having 40.66% could buy additional 16,17% but considered this too wasteful for the budget.
The deal between Williams and Yukos is to be implemented by the end of September. So Yukos will receive the right of run the Lithuanian company and credit obligation worth of $75mln under 10% annually.