Rosneft Wins Fifth Auction for Yukos Assets
Published April 18th, 2007
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.
