Moscow offers details on plans for Slavneft and Onako Sales

Jun 28, 2000 02:00 AM

The Russian State Property Ministry has submitted proposals to the Russian government regarding the sale of state holdings in Slavneft (19.68%) and Onako (85%). The holding in Slavneft will be sold at a special cash auction, i.e., the package will be divided between auction participants in proportion to bids.
One of the contenders is Tyumenneft (TNK), which owns 12.5% of the shares of Slavneft. Sibneft's President Yevgeny Shvidler also displayed interest in purchasing the state holdings in the oil companies. The stake in Onako will be sold at investment tenders. The plan is opposed by Yukos, which said it would buy the package at a cash auction.

Source: Vedomosti via NewsBase
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