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Yukos stake in Rosneft to be auctioned March 27


Published :
Thu, 22 Feb 2007 09:56
By : Agencies
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MOSCOW (AFX) - An auction will take place on March 27 for the sale of a 9.44 pct stake in the Rosneft oil company owned by the stricken former oil giant Yukos, the state property fund said on Thursday.

The starting price for the stake has been fixed at 195.5 bln roubles (5.6 bln eur, 7.4 bln usd) and each counter-bid should be at least 260 mln roubles above the previous bid, the fund said in a statement in the Rossiyskaya Gazeta official newspaper.

Included in the lot will be promissory notes for the Yukos production arm Yuganskneftegaz with a nominal value of 3.6 bln roubles (1.4 mln usd/1.0 mln eur).

Rosneft has said it is interested in buying the stake, one of the last assets of Yukos, which was declared bankrupt last August.

Other Yukos assets still to be sold include a 20-percent stake in an oil-producing subsidiary of Gazprom, Gazprom Neft.

Other companies that have voiced an interest in Yukos assets include Russia's Gazprom, Norilsk Nickel and Itera, US oil major Chevron and Italy's ENI and Enel.

newsdesk@afxnews.com

afp/jlc

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