Russia’s Mikhail Fridman drops bid for West Texas assets on political concerns
- Nina Sudnitsin
- Jun 26, 2017
- 1 min read
Fridman’s investment company, LetterOne, has pulled out of an U.S. investment to avoid resistance from an unexpected corner — the Trump administration. LetterOne’s L1 Energy unit recently walked away from a deal to buy Texas oil producer ExL Petroleum Management LLC for about $700 million over concerns the plan could be rebuffed by the Committee on Foreign Investment in the U.S., or CFIUS, the government panel that reviews deals for national security risks.
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