December date for Yukos sell-off
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Russia sets a date and price for the auction of embattled Russian oil giant Yukos' main unit, as it seeks payment of a massive tax bill.
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MOSCOW The Russian government said Tuesday that it would sell part of Yukos&#39;s most valuable subsidiary by the end of November as the company tries to pay off the billions of dollars it owes in taxes.
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The Russian government said on Tuesday that it would sell part of the oil giant Yukos&#39;s most valuable subsidiary by the end of November, but at a price well below what investors and analysts consider its worth.
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Russia set a date for the auction of Yukos's main unit in a move that will pluck the embattled firm's crown jewel and effectively destroy what last year was considered the nation's best-run oil company.
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Russia moved ahead Friday with plans to break up the country&#39;s largest oil producer over unpaid back tax bills, announcing it would auction off a majority stake in the main production unit of oil giant OAO Yukos next month.
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Russian oil major Yukos is expected to face the auction of its main subsidiary by the end of the month at a price far lower than its estimated worth, a move analysts say could ruin the company and destroy the equity of minority shareholders.
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MOSCOW, DECEMBER 20: Russia Left Yukos and its investors guessing as to its next move on Monday after selling its main oil production unit to Baikal Finance Group, a mystery firm registered at a grocery in provincial Russia.
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MOSCOW Sept. 27, 2004 - Assets of Russia&#39;s beleaguered Yukos oil company should be sold for at least $15 billion, a senior official said Monday, as the company&#39;s main production unit is evaluated for sale against a crushing back-tax bill.
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Russia oil company YUKOS assets may be sold partially by the Russian Justice Ministry in order to cover its outstanding tax bill. The selling-off will probably touch YUKOS main oil subsidiary Yuganskneftegaz.
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MOSCOW: Shares of Russian oil major Yukos fell on Friday after the firm said it would trim output at its main Yugansk unit and a paper reported the unit could be sold for a fraction of what analysts say it is worth.
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The Russian gas giant Gazprom declared Wednesday it would bid for a major oil production subsidiary of the embattled oil company Yukos when the subsidiary is auctioned off by the government on Dec.19.
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Russia's gas monopoly Gazprom will bid for the crown jewel of the embattled oil giant Yukos during an upcoming December auction, a top company official said, confirming long-held market rumors.
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The Russian government will sell a majority stake in the main production unit of the embattled Yukos oil company at an auction scheduled for Dec. 19, the Interfax news agency reported Friday.
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Russian tax authorities yesterday scheduled the equivalent of a fire sale at what was once the nation&#39;s largest oil company, offering the main production facility at Yukos Oil
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Russian authorities will continue to sell off the remains of the shattered Yukos oil company, with at least one of its main remaining subsidiaries being sold sometime this spring, a Russian news agency said Tuesday.
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MOSCOW Russia&#39;s Justice Ministry will sell off some of the assets of a subsidiary of the oil giant Yukos. That&#39;s according to a statement carried by the Interfax news agency.
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The sale by auction of the main production arm of Russian oil company Yukos is scheduled to take place today. Yukos&#39;s troubles began when its founder and key shareholder, Mikhail Khodorkovsky, broke an unwritten