A subsidiary of Russia's state-run oil producer Rosneft has won the fifth auction for smaller assets of the now bankrupt oil company Yukos, the country's federal property fund said on Wednesday, April 18.
Yukos, once Russia's largest private oil company, was declared bankrupt Aug. 1, 2006, after three years of litigation with tax authorities over the company's tax arrears.
Rosneft's subsidiary Neft-Aktiv was declared the auction winner after it offered 1.03 billion rubles (about $40 million) for the lot whose initial price was 992.31 million rubles (about $38.5 million). The other bidders included the companies Akkord and MorTransInvest, the fund said.
The first auction was held on March 27 to sell Yukos' 9.44 percent stake in Rosneft. It was won by Rosneft's subsidiary RN-Razvitiye, which offered 197.84 billion rubles for the lot (about $7.6 billion), compared with the lot's initial price of slightly over 195.5 billion rubles (about $7.5 billion).
The second auction was held April 4 to sell a 20 percent stake in Gazprom Neft (former Sibneft) and Yukos' gas assets. It was won by a subsidiary of Italy's energy company Eni, which offered 151.53 billion rubles ($5.83 billion) compared with the lot's initial price of 144.77 billion rubles (about $5.57 billion).
The third auction, including Yukos's research and development assets, was called off due to a lack of bids.
The fourth auction was held April 17 for the bankrupt company's energy assets in the Tambov and Belgorod Regions in Central Russia. It was won by mysterious U.S. company Monte-Valle, which offered 3.563 billion rubles (about $138 million) for the lot compared with the lot's initial price of 2.64 billion rubles (about $102.2 million).
Yukos, whose founder Mikhail Khodorkovsky is serving an eight-year prison term in Siberia after being convicted of fraud in May 2005, faces a total of more than 700 billion rubles (about $26.9 billion) in claims from creditors. - Source: http://MosNews.com
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