Reuters: Lukoil prefers to sell its international assets to the American bank Xtellus Partners

The Russian company Lukoil prefers the offer from the American bank Xtellus Partners for its global assets, to the detriment of over ten competing offers, as it takes the form of a cashless transaction that would return the shares held by the U.S. to the Russian oil company, two sources familiar with the process told Reuters.

If Xtellus were to reach an agreement with Lukoil, it would need to seek approval from the U.S. Treasury to proceed, according to guidelines issued by the Treasury for bidders in November.