2 Major YUKOS Subsidiaries for Auction
Published May 7th, 2007
Two large firms are the last to be sold in an auction selling off assets of bankrupt oil giant YUKOS. LUKOIL, Naft Moskva and TNK-BP are expected to join Rosneft and Gazprom-linked Unitex to bid for a Samara company and a gas station chain. Industry experts say, however, that the winner of all auctions was chosen before the auctions, and some firms may be thrown out of competition before the bidding starts.
Monday is the last day to submit applications to bid for the last two assets of YUKOS. Production facilities in Samara will be put on sale with the ask price of 154 billion rubles, and 500 gas stations in Central Russia will go under the hammer at the price of 7.7 billion rubles.
State-owned Rosneft has bought all key assets of what was one Russia’s largest oil company. But competition for the remaining subsidiaries may be stiffer. A source close to YUKOS says that three companies, including Rosneft have already filed their applications to bid for the Samara lot. One of the three is Promregion Holding which is reputed to be linked with LUKOIL. Russia’s top oil producer announced back in April that it would not take part in YUKOS’s sell-off.
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