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Rosneft Bought Last Bankrupt Yukos's Unit

Russian state oil giant Rosneft bought out the last production unit belonging to bankrupt Russian oil giant ...

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.