E&Y hired to advise on Yukos sale
Big four firm appointed by Russian receiver
Ernst & Young and Gazprombank will advice on the sale of the remaining
assets of collapsed Russian oil giant Yukos as its court-appointed receiver
looks to pay creditors.
Creditors of Yukos are owed about $18.4bn (£9.7bn).
According to reports, Rosneft, the Russian oil giant that acquired Yukos’s
prized ArcticGaz unit in an auction, is likely to buy most of the assets.
Rosneft is also Yukos’s second-biggest creditor but may face competition from
Gazprom, the state gas monopoly
Yukos, once Russia’s biggest oil company, was declared bankrupt earlier this
month leaving the government with a reported $30bn (£15.8bn) tax bill.