Rosneft Bought Last Bankrupt Yukos's Unit

Russian state oil giant Rosneft bought out the last production unit belonging to bankrupt Russian oil giant Yukos for a steep discount in a bankruptcy auction on Thursday, sealing the state-run oil major’s takeover of Mikhail Khodorkovsky’s former empire, once Russia’s biggest.

Rosneft beat the only other bidder to pay $6.43bn for the Samaraneftegaz unit and three refineries in a 10-minute auction. The only remaining big Yukos asset left to go under the hammer is its imposing Moscow headquarters, set to be sold on Friday in a symbolic end to an oil major that was once the favourite of western investors. Read the FT’s analysis page for intriguing background on the Yukos saga.