Auction for Yukos unit
Created: Jul 16, 2007 11:00 AM
MOSCOW (Bloomberg) — Russia's government will start taking bids from today for an overseas unit of bankrupt OAO Yukos Oil Co. that controls a 49 percent stake in Transpetrol SA, Slovakia's pipeline operator.The Russian Federal Property Fund will take bids for Yukos Finance BV through August 13 and hold an auction on August 15. The starting price is 7.6 billion rubles ($299 million).
Yukos, once Russia's biggest crude-oil producer, was declared insolvent almost a year ago after the government filed more than $30 billion in taxes and fines against the company.