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LUKoil to close Udmurtnefteprodukt deal soon - president

ST. PETERSBURG, June 3 (RIA Novosti) - The chief executive of Lukoil (RTS: LKOH), Russia's largest privately owned oil producer, said Saturday the $26 million deal to buy a 41.8% stake in regional oil company Udmurtnefteprodukt would be completed soon.

"I believe it [the deal] will be closed in five days' time," Vagit Alekperov said.

LUKoil said earlier it would subsequently bring up to 95% its stake in Udmurtnefteprodukt, a major retail distributor of petroleum products in the oil-rich region of Udmurtia, about 1,000 kilometers (625 miles) east of Moscow.

Lukoil's newly acquired asset has over 100 filling stations and 7 storage facilities. According to an Alfa Bank valuation, it is worth $125 million.

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