Rosneft Snatches Up Yukos Assets For $6.8B

Law360, New York (May 3, 2007, 12:00 AM EDT) -- OAO Rosneft Oil Co. has agreed to shell out $6.8 billion to snap up key assets of bankrupt oil group Yukos, a move that is expected to make the state-run business Russia’s largest oil producer.

On Thursday, auction officials revealed that Rosneft had purchased Tomskneft, the East Siberian Oil and Gas Co. and other eastern Siberian units in the sale.

Rosneft subsidiary Neft Aktiv was one of two bidders vying for the property. Unitex, a company purportedly linked to Russian gas monopoly Gazprom, fell short in...
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