Mittal Sells 50% Stake in Caspian Investment to China's Sinopec

摘要

Continuing his retreat from the oil in- dustry, Indian steel magnate Lakshmi Mit tal has sold his 50% stake in Kazakh oil company Caspian Investment Resources to China Petroleum and Chemical Corp., or Sinopec, for an undisclosed amount. Mittal Investments, the Mittal family's holding company, sold its interest to Sinopec after Russia's Lukoil Overseas, which holds the remaining 50% of the company, declined to exercise its pre- emptive right to buy the stake, a source told International Oil Daily.