Russia may schedule more YUKOS auctions this week
Published March 12th, 2007
Russia may announce more auctions to sell assets of bankrupt oil company YUKOS as early as this week, the YUKOS receiver’s office said on Monday.
“YUKOS’s creditors’ committee discussed the composition of lots for other auctions at a meeting today. The results will be published in the official media shortly,” Nikolai Lashkevich, spokesman for YUKOS receiver Eduard Rebgun, told Reuters.
“Presumably it could be on Saturday, when (the official gazette) Rossiiskaya Gazeta has a bankruptcy section, but it also may be published any other day this week,” he said.
The committee, led by tax officials and state-controlled oil firm Rosneft (ROSN.MM: Quote, Profile , Research), earlier announced the first two auctions to sell off the assets of YUKOS, once Russia’s largest oil firm, to recover more than $26 billion in back taxes.
The first auction on March 27 will dispose of YUKOS’s 9.4 percent stake in Rosneft, which already owns the bankrupt company’s former main production unit, Yugansk. The state-controlled company is widely expected to buy the stake.
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