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26 Jun, 2007 11:26

Rosneft gets its fill of Yukos petrol stations

Rosneft has bought around 600 former Yukos filling stations across Russia in two separate deals, paying more than $US 800 MLN.

The state-run oil giant got its hands on the stations when its subsidiary Neftaktiv acquired Unitex – which itself won almost 500 of the filling stations at auction in May.  Unitex bought the lucrative assets for almost $US 500 MLN, outbidding Shell and British-Russian joint venture TNK-BP at a series of Yukos auctions.  Now Rosneft is buying the lot for over $US 600 MLN.

In another development, Rosneft is spending $US 200 MLN on a separate Yukos lot which includes more than 100 filling stations.

Rosneft says the new acquisitions will boost its position on the growing retail market and help improve its overall performance.

Rosneft is also said to be planning to buy the bankrupt Yukos's former office building in central Moscow.  Vedomosti business daily reports, Rosneft's head Sergey Bogdanchikov wants to move into Yukos's former headquarters after acquiring it from auction winner Prana.