IAE MATERIAL
Baikalfinansgrup LLC
The direct buyer of Yukos’s principal producing asset, Yuganskneftegaz OJSC, at a forced auction; an intermediary that held the asset before its transfer to Rosneft.
Role in the Case
The direct buyer of Yukos’s principal producing asset, Yuganskneftegaz OJSC, at a forced auction; an intermediary that held the asset before its transfer to Rosneft.
Key Dates
- 19 December 2004 — Acquires 76.79% of Yuganskneftegaz OJSC at auction for approximately US$9.3–9.35 billion.
- Late December 2004 — Rosneft acquires 100% of Baikalfinansgrup.
Involvement
Baikalfinansgrup won the auction for a controlling stake in Yuganskneftegaz, Yukos’s principal producing asset. Two bidders took part, but only Baikalfinansgrup made actual bids. Shortly after the auction, the company was acquired by state-owned Rosneft, bringing Yuganskneftegaz under Rosneft’s control.