Russia okays forced sale of Yukos arm
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Govt sets minimum price at $8.6 bn, against Dresdner Kleinwort Wassersteinâs lowest fair value of $15.7 bn. The Russian government on Friday approved the forced sale of the main subsidiary of Yukos, the
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Russia will forge ahead with an auction  on Sunday to sell the key asset of stricken oil company YUKOS  despite an order from a U.S. bankruptcy court blocking the sale  for 10 days, an official said on Friday.
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MOSCOW: Russia forged ahead yesterday with the weekend auction of the core asset of crippled oil giant Yukos despite a US court order barring the sale, as the state-controlled gas monolith Gazprom entered the bidding.
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Russia is vowing to proceed with an auction of oil giant Yukos' key production subsidiary, saying a U.S. court ban is irrelevant. But the expected winner of Sunday's auction, the state-run Russian gas company Gazprom, may not be able to pay after a consortium of Western banks reportedly put on hold billions of dollars in credit it needs to fund its bid.
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Baikal Finance Group, an unknown  company, won an auction for Russian oil company's YUKOS's core  asset Sunday with a $9.4 billion bid and analysts said whomever  was behind the bid enjoyed Kremlin favor.
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Russia's Federal Property Fund said on  Friday it intended to go ahead with an auction of oil major  YUKOS' main unit Yuganskneftegaz despite a U.S. court decision  to freeze the state-imposed sale.
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Description: Russian officials make it clear they plan to proceed with an auction of oil company Yukos&#39; main production unit, despite a restraining order from a US court.
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MOSCOW, NOVEMBER 19: Russia pressed ahead on Friday with the last step in the destruction of embattled oil major Yukos, saying it will auction its main Siberian unit on December 19 at a starting price of $8.65 billion.
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Russia is pressing ahead with the last step in the destruction of YUKOS, saying it will auction the oil major&#39;s main Siberian unit on December 19 for $8.65 billion (4.66
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Russia&#39;s Federal Property Fund said Friday it will go ahead with an auction of the embattled Yukos oil giant&#39;s major unit Yuganskneftegaz despite a US court decision to halt the sale, the Itar-Tass news agency reported.
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NEW YORK, December 22  - Russiaâs gas giant, Gazprom (GAZ.FSE), said yesterday that it had sold the holding structure that took part in the sale of Yukoâs main production unit two days before the auction, in a move aimed at avoiding
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Russia's president endorsed the sale of a majority stake in Siberian oil fields held by Yukos, the besieged Russian oil conglomerate, and said the purchase had followed the law.
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Russia's anti-trust body said on  Saturday it had approved the state oil firm Rosneft's purchase  on Thursday of the obscure buyer of the key production unit of  beleaguered YUKOS oil company.
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Russia&#39;s state-controlled gas giant Gazprom approved a plan to bid for Yukos&#39; core production unit Wednesday amid reports that the company was negotiating to secure a euro10 billion (US$13 billion) loan from a group of Western banks to support its offer.
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MOSCOW  - Russia's Federal Property Fund plans to go ahead with the auction of the largest production unit of the embattled oil giant Yukos regardless of a U.S. court injunction against a sell-off that is likely to put the heart of the company's operations under state control, an official said Saturday.
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19 December 2004 -- The Russian firm Baikalfinansgroup has won the bidding to buy a core asset of the Yukos oil company -- Yuganskneftegaz -- as the Russian government today carried out its threat to dismember Yukos.
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The future of the Russian oil industry took an unexpected turn Sunday when a previously unknown investment group won an auction for the main production assets of embattled oil company Yukos.