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. Last Updated: 07/27/2016

State Offers Up Foreign Yukos Assets

The government will start taking bids Monday for an overseas unit of bankrupt oil firm Yukos that controls a 49 percent stake in Transpetrol, Slovakia's pipeline operator.

The Federal Property Fund will take bids for Yukos Finance BV through Aug. 13 and hold an auction Aug. 15, Rossiiskaya Gazeta reported Saturday.

The starting price is 7.6 billion rubles ($299 million), the government newspaper said.

Yukos Finance's assets include the proceeds from the sale of a 54 percent stake in Lithuanian refinery Mazeikiu for almost $1.5 billion and a 49 percent stake in Transpetrol worth $100 million to $200 million.

Yukos' 13.7 billion rubles of accounts receivable will also be auctioned Aug. 15, at a starting price of 11.5 billion rubles, Rossiiskaya Gazeta said. Accounts receivable is money owed, but not yet collected, for goods or services.

On Wednesday, Yukos receiver Eduard Rebgun said he believed Yukos and its former owners still might have more than $10 billion in property and assets abroad, which he said he would fight hard to recover.

Slovakia's economy minister, Lubomir Jahnatek, said in March that his country, which owns the remaining 51 percent in Transpetrol, wanted to buy back the Yukos stake and hoped that it would reach a deal by the end of this year.

The ministry's spokesman declined to comment Friday whether Slovakia was still interested.

Transpetrol is a key link in the supply of oil from Russia to Central Europe. Controlling the company gives the Slovak government a strong hand in determining the country's energy policy.

Moscow has expressed an interest in selling the stake to a Russian firm to help strengthen its already large influence on energy in the region.

Bloomberg, Reuters