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Former Swedish premier Bildt appointed LetterOne board adviser
May 14, 2015 / 9:42 AM / 2 years ago

Former Swedish premier Bildt appointed LetterOne board adviser

LONDON, May 14 (Reuters) - Russian tycoon Mikhail Fridman’s LetterOne Group said on Thursday it has appointed former Swedish prime minister Carl Bildt as a board adviser in the fund’s latest high-profile addition as it expands its oil and gas business.

Bildt’s appointment follows the naming last week of ex-British trade minister Mervyn Davies as deputy chairman of LetterOne’s board of directors and, earlier, former BP Chief Executive John Browne as executive chairman of L1 Energy.

“We are pleased to have assembled a team of world-class advisers to contribute to our thinking and growth as an international business,” Fridman said in a statement.

Fridman, who made a fortune in Russia after the Soviet Union collapsed in 1991, earlier this year acquired DEA, the oil and gas unit of Germany’s RWE, for 5.1 billion euros ($5.7 billion).

The deal, which gave LetterOne assets in Norway, Egypt, Libya, Germany, Poland, Turkmenistan and Algeria met resistance from the British government which threatened to revoke its assets in the UK North Sea amid a standoff between the West and Moscow over Russia’s actions in Ukraine. (Reporting by Ron Bousso; Editing by Vincent Baby)

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