Putin's hunger for power (in every sense of the word) knows no limits... How to finish off Yukos before the term ends? "Auction" its remaining assets to the two state-run energy companies who will pay for them with loans secured at ridiculously low rates, sealed with the approval of nearly every major global investment bank.
March 20 (Bloomberg) -- OAO Rosneft, Russia's state-run oil
company, will borrow $22 billion as it prepares to buy up assets
from bankrupt OAO Yukos Oil Co., helping President Vladimir Putin
seal control of the nation's energy industry.
Putin bolstered control of the nation's resource
wealth over the past three years as state-run Rosneft and Gazprom
acquired assets from Yukos, which was crippled by more than $30
billion in tax claims. Yukos's assets were valued at about $26.5 billion, signaling
Rosneft plans to bid for all its oil production, refining and
retail assets The loans were organized by ABN Amro Holding BV, Barclays
Plc, BNP Paribas SA, Calyon SA, Citibank, Goldman Sachs Group
Inc., JPMorgan Chase & Co. and Morgan Stanley. The interest rates on both loans will be between 0.25 and
0.5 percentage point above money-market rates, |
clipped from www.bloomberg.com
No comments:
Post a Comment