Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Four Bidders for Onako

The Anti-Monopoly Ministry has received four bids in a tender for the state’s 85 percent stake in Onako, the nation’s 12th-largest oil producer, Interfax reported Friday.

The news agency quoted an unamed source as saying the ministry had received bids from Yukos, Tyumen Oil Co., Profit House and YevroTEK.

On Wednesday, the nation’s second largest oil producer, Yukos, the sixth largest, Sibneft and pipeline builder Stroitransgas said they would jointly bid for the stake and will be jointly represented by Profit House.

Those taking part in the tender must receive permission from the Anti-Monopoly Ministry.

Yukos last month received permission from the ministry to acquire up to 100 percent of Onako.

The State Property Fund, the official seller of the state’s stake in Onako, is accepting bids until Sept. 14 at a starting price of $425.25 million.

The results of the tender are expected to be announced Sept. 19.