Law amended, deal with Williams looms

  • 1999-10-07
  • By Paul Beckman
VILNIUS - The Parliament adjusted a handful of laws Oct. 5 that are likely to clear the way for the American company Williams International to close a deal on a controlling stake in the Lithuanian oil sector.The Parliament voted to amend a current law so that the state would be allowed to hold less than 25 percent in Mazeikiu Nafta, the country's oil complex that includes a refinery, pipeline and import-export terminal. Previously, the state could not hold less than 25 percent of shares in the oil sector.This opens up the way for Williams to buy an initial one-third stake in the oil compl...
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