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Rosneft subsidiary buys Yukos' East Siberia assets for $6.8 bln

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A subsidiary of Russia's state-controlled oil company Rosneft has bought the Eastern Siberia oil assets of the now bankrupt oil firm Yukos for 175.7 billion rubles (about $6.82 billion), a RIA Novosti correspondent reported Thursday.
MOSCOW, May 3 (RIA Novosti) - A subsidiary of Russia's state-controlled oil company Rosneft has bought the Eastern Siberia oil assets of the now bankrupt oil firm Yukos for 175.7 billion rubles (about $6.82 billion), a RIA Novosti correspondent reported Thursday.

The initial lot price that included Yukos' largest oil producing and refining companies in Russia's east was 166.34 billion rubles (about $6.46 billion), with the deposit sum of 33.27 billion rubles (about $1.29 billion) and a bid increment of 260 million rubles (about $10 million).

Neft-Aktiv, the auction winner, and Unitex, affiliated with private gas company Novatek, vied for the Eastern Siberia prize assets of the bankrupt oil company, the auction commission said.

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.

Earlier on May 3, Promregion Holding, believed to be affiliated with Russia's largest crude producer LUKoil, won the auction for Yukos assets in the Krasnodar Territory in southern Russia, after it offered 4.9 billion rubles (about $190 million) compared with an initial lot price of 3.17 billion rubles (about $123 million), the auction commission said.

However, a LUKoil representative said Thursday that Promregion Holding had no links to the company.

"This company has no links with us," Dmitry Dolgov said in reply to the question about whether the auction bidder was affiliated with LUKoil.

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.

Yukos expects the proceeds from the auctions held May 3 to be transferred in 20 days, said Nikolai Lashkevich, the press secretary of the Yukos bankruptcy manager.

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