The Russian Federal Property Fund has not yet decided on the size of a stake in Yuganskneftegaz that will be put up for sale
Published:
18 October 2004 y., Monday
The Russian Federal Property Fund has not yet decided on the size of a stake in Yuganskneftegaz that will be put up for sale. Neither did it decide on the starting price and the form of the public sale, Vladimir Zelentsov, spokesman for the Russian Federal Property Fund, told RBC.
“We are still waiting,” he said. At the same time, Mr. Zelentsov neither confirmed nor denied unofficial reports about the government’s plans to sell a 77 percent stake in Yuganskneftegaz for $4bn.
On October 12, the Russian Federal Property Fund received documents from the Russian Justice Ministry regarding the sale of Yuganskneftegaz’s assets to cover YUKOS’s tax debts. Earlier, Mr. Zelentsov said the Russian Federal Property Fund could auction Yuganskneftegaz in late November 2004. Information about the sale would be announced at the end of October 2004, he said.
The Justice Ministry of Russia decided to sell some of YUKOS’s assets through the Federal Property Fund because YUKOS had not been paying the tax debt quickly enough. The payment was “unjustifiable delayed”, according to the Justice Ministry. According to the Ministry, YUKOS’s confirmed tax debt is $3.73bn. The Justice Ministry also announced that Dresdner Kleinwort Wasserstein had valued Yuganskneftegaz at $10.4bn.
However, excepts from DrKW's report were published later, suggesting that Dresdner Kleinwort Wasserstein valued Yuganskneftegaz between $15.7bn and $18.3bn, taking into consideration the company’s net debt of $2.9bn and its potential tax liabilities. Sources who read the report, said $10.4bn was the most pessimistic valuation that could be applied if YUKOS lost its oilfield licenses.
Šaltinis:
rbcnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »