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. Last Updated: 07/27/2016

Onako Auction to Start

MOSCOW -- Chairman of the State Property Fund Vladimir Malin has not ruled out attempts to disrupt the sale of an 85 percent stake in the Onako oil company, Interfax reported.

In an interview with Vedomosti newspaper published Monday, Malin said the company "will be sold no matter what."

It was announced that the property fund would release the results of the competition for the sale of 85 percent of the shares of the Onako oil company on September 19. The receipt of bids began July 21 and will end September 14. The starting price for the 85 percent stake was set at $425.3 million. The winner of the bid must also cover the 125,000 rubles (about $4,500) cost of the pre-tender audit.