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. Last Updated: 07/27/2016

Rosneft Buys Assets from Prana

Rosneft said Monday that it had bought the Yukos assets won by mystery firm Prana at a bankruptcy auction last month, including the company's Moscow headquarters and a firm believed to be holding $3 billion in cash.

Rosneft also agreed to sell 50 percent of its newly acquired Tomskneft production unit to Vneshekonombank to reduce its debt.

Media speculation had linked Prana to Gazprom and its affiliates until Rosneft CEO Sergei Bogdanchikov said last month that he was in talks to buy assets from the unknown firm.

Rosneft said in a statement that the Yukos-M trading house, which former Yukos managers have said sits on up to $3 billion in cash, "owns assets which are an integral part of the operational and management system" of oil assets it had picked up in previous auctions.

Rosneft emerged the clear winner from the series of auctions held by Yukos' court-appointed bankruptcy manager from March through June to sell of the remnants of the bankrupt oil firm.

Rosneft did not specify how much it paid Prana, whose owners have not been publicly disclosed, for the assets.

Rosneft bought Tomskneft at a bankruptcy auction from Yukos on May 3. Vneshekonombank is Russia's payment agency for foreign debt.

Rosneft did not disclose the price of the Tomskneft stake in an e-mailed statement about the sale Monday.

MT, Bloomberg