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The committee of Yukos creditors has formed three more lots to be sold at auction of the bankrupt company's assets
The committee of Yukos creditors has formed three more lots to be sold at auction of the bankrupt company's assets, the press secretary for Yukos's bankruptcy manager said Friday. Yukos, once Russia's largest oil company, was declared bankrupt August 1, 2006, after three years of litigation with tax authorities over the company's tax arrears. Nikolai Lashkevich said the next auction will be held in May and include three lots comprising various production and servicing assets of what was once Russia's major oil producer. The first lot will comprise Samaraneftegaz, one of Yukos largest production assets, and also oil refining and producing, energy, service and research assets in the Volga Region. A source close to the committee told RIA Novosti that the starting price of the first lot will be set at about 150 billion rubles ($5.77 billion). The second lot will include oil-derivatives retail sales outlets in central Russia and the third will feature mainly trade and management assets in Moscow. Russia's state-run oil company Rosneft bought its 9.44% stake held by Yukos in the first auction March 27. The lot acquired by Rosneft's RN-Razvitiye also included 12 promissory notes in the Yuganskneftegaz oil producing unit, worth 3.558 billion rubles (about $136.8 million). RN-Razvitiye offered 197.84 billion for the lot (about $7.6 billion). On Wednesday, a subsidiary of Italy's energy company Eni won a 20%-stake in Gazprom Neft at a second auction of Yukos assets, bidding 151.53 billion rubles ($5.83 billion). Eni has immediately offered Russia's energy giant Gazprom [RTS: GAZP] the purchased share in Gazprom Neft for $3.7 billion over two years. 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.
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