Argentine President Kirchner Heads To Russia
BUENOS AIRES - Argentina President Cristina Kirchner will begin a visit to Russia Monday to sign energy and trade deals, amid reports that Russia's Lukoil Holdings (LKOH.RS) will buy 20% of Spanish-Argentine oil company Repsol YPF SA (REP.MS). Kirchner is due to leave Buenos Aires Sunday for Moscow, where she is scheduled to take part in a trade seminar, on a visit set to stretch through Wednesday.
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Tuesday she is due to meet with President Dmitry Medvedev at the Kremlin to sign energy and trade deals, said an official Argentine source.
The Argentine president also is to meet with Russian Prime Minister Vladimir Putin, ahead of a visit to St. Petersburg.
Her visit comes amid reports that Lukoil is ironing out details of a major investment in Repsol, and as Moscow seeks to bolster its influence in the Americas.
Under a revised plan, Lukoil would buy 10% of the 20.01% stake in Repsol that is held by debt-ridden Spanish construction group Sacyr Vallehermoso SA (SYV.MC) and 10% from other shareholders, such as banking groups La Caixa and Caixa Cataluna or insurance firm Mutua Madrilena.
Spanish media had said privately-owned Lukoil had sought a 29.9% stake in Repsol, made up of all of Sacyr's holding and part of the 14.2% stake owned by La Caixa.
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