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. Last Updated: 07/27/2016

Bogdanchikov Reveals Contents Of the Yukos Headquarters Lot

The Yukos headquarters lot that sparked a fierce bidding duel contained oil inventories, empty oil rail wagons and debts owed by Yukos, as well as cash and real estate, Rosneft president Sergei Bogdanchikov said, Kommersant and Vedomosti reported Thursday.

The lot, No. 13, finally went for $3.9 billion -- 4 1/2 times higher than the starting price -- to mystery company Prana, which outbid a Rosneft subsidiary at a May 13 auction.

Apart from Yukos headquarters and some other offices, the lot held several thousand oil rail wagons, cash and several hundred million dollars' worth of value added tax that the state has to refund on export operations, Bogdanchikov said, Vedomosti and Kommersant reported. He did not specify the amount of cash.

Also, the lot included 500,000 tons of oil products in storage held by Trading House Yukos-M, a Yukos affiliate, and $1 billion worth of debts owed to Yukos affiliates by other companies, Bogdanchikov said at an energy conference in Paris.

The oil products could be worth 16 billion rubles ($617 million), a source familiar with the lot's appraisal told Kommersant. The companies sold in the lot not only owed money but also had to pay back certain debts that left a surplus of only 8 billion rubles, or $308 million, Kommersant said.

A former top Yukos shareholder and deputy CEO, Alexander Temerko, said after the auction that Yukos-M held an estimated $2 million to $3 million in cash.

The Federal Property Fund and the office of Yukos receiver Eduard Rebgun have refused to name the interests behind Prana. Gazprom has denied it has any connection to Prana.