Bloomberg News

Lukoil Executives Alekperov and Fedun Own Russia's IFD Kapital

March 01, 2006

Two OAO Lukoil executives, Vagit Alekperov and Leonid Fedun, are the majority owners of IFD Kapital, a Russian financial-services company that's grown by buying assets from Lukoil.

A majority of IFD capital is ``beneficially owned by Mr. Alekperov and Mr. Fedun,'' according to the prospectus for a bond sale by an IFD unit, OAO Bank Petrocommerce.

IFD Kapital has grown by buying assets from Lukoil -- among them Bank Petrocommerce, which had $2.3 billion in assets in July of last year -- according to IFD's Web site. It has about $5 billion in assets altogether.

IFD Kapital is active in Russia's insurance, banking and pension industries. IFD Kapital units compete with those of other Russian oligarchs, such as Vladimir Potanin's OAO Rosbank and Mikhail Fridman's Alfa Bank.

Alekperov is the chief executive officer of Lukoil, Russia's biggest oil producer. He's Russia sixth-richest man, with a fortune of $8 billion, the Moscow-based business magazine Finans estimated last month. Fedun, the oil company's deputy chief executive officer, is worth $2.9 billion, the magazine estimated.

Lukoil spokesman Dmitry Dolgov didn't answer the telephone when Bloomberg News called after working hours.

To contact the reporter responsible for this story: Michael Teagarden in Moscow at mteagarden@bloomberg.net. Todd Prince in Moscow at tprince2@bloomberg.net.

To contact the editor responsible for this story: Tim Coulter at tcoulter@bloomberg.net; Edward Buckle at ebuckle@bloomberg.net.


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