21 Yukos Assets Bundled for Auction
Published March 5th, 2007
The receiver of bankrupt oil firm Yukos will auction its stake in Gazprom Neft on April 4, Interfax quoted the state property agency as saying Friday.
The stake will be sold with Yukos’ northern gas production unit ArcticGaz and 20 other assets in one lot with a starting price of 145 billion rubles ($5.54 billion), the agency said.
A spokesman for the agency declined to comment.
The agency earlier set March 27 as the date for the first auction, when Yukos’ 9.4 percent stake in state-controlled oil company Rosneft will be sold.
The starting price of the first lot, which also includes promissory notes issued by Yuganskneftegaz, once Yukos’ main production unit, will be 195.5 billion rubles ($7.47 billion). Yugansk was sold in 2004 and Rosneft bought it.
Interfax quoted Yukos receiver Eduard Rebgun as saying he values the firm’s assets, which include five major refineries and over 400,000 barrels per day of oil production, at $25.6 billion to $26.8 billion.
The amount exceeds the $22 billion Rebgun announced previously.
“According to information I have, the value is $25.6 billion to $26.8 billion,” Rebgun told Interfax in an interview.
Interfax also quoted Rebgun as saying the liquidation discount during the sale would not exceed 30 percent. Rebgun also said 90 percent to 95 percent of Yukos assets would be sold by August 2007.
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