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Rosneft buys YUKOS gas stations from Unitex

Posted in General Category by admin on the June 26th, 2007

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Neft-Aktiv LLC, part of Rosneft oil group, has entered into an agreement with Unitex LLC to buy the gasoline stations in southern Russia that Unitex purchased at a YUKOS bankruptcy auction in May, Rosneft has reported. Under the agreement, Neft-Aktiv paid RUR 16.324 billion (approx. $633.5m) to Unitex for 495 gasoline stations and oil terminals.

Unknown firm Unitex LLC won the twelfth YUKOS bankruptcy auction for 537 gasoline stations and oil terminals in central Russia, including in Moscow. The other bidders were TNK-Yugra, Shell-Neft and Rosneft, which paid a deposit but did not appear at the auction. The starting price was RUR 7.741 billion (approx. $298.9m), and Unitex offered RUR 12.46 billion (approx. $481m). The structure of Unitex remains unknown.

Unitex first came to public notice in the second YUKOS bankruptcy auction, when a 20 percent stake in the bankrupt oil firm was put up for sale. Gazprom said later that the company was not part of it. A source in independent gas producer NOVATEK, which received an option to buy Unitex, said his company had no relations with Unitex, and that the option was for gas assets only, and it had not been exercised.

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