#18 - JRL 2007-178 - JRL Home
Moscow Times
August 21, 2007
Lynch Says He Will Sell Yukos Assets
U.S. businessman Stephen Lynch said Monday that he planned to sell
the international Yukos assets he bought at a bankruptcy auction last week.
"I'm confident this asset will find a home," Lynch said.
Lynch said his firm, Monte Valle, had been reducing its presence in
industrial real estate to focus on other investments. Monte Valle and a group of
investors bought Yukos Finance, Yukos' disputed international unit, for $305
million Wednesday.
Lynch said VR Capital, a U.S. hedge fund run by Richard Deitz, was one of the
investors helping fund the purchase. He declined to name any others, but said
they were all "non-Russian, foreign capital."
Lynch said he bought registered bidder Promneftstroi on the eve of the sale
to participate in the auction for Yukos International. Promneftstroi previously
belonged to Rosneft.
Yukos Finance owns a 49 percent stake in the Slovak pipeline monopoly,
Transpetrol.
Embattled oil firm Russneft was interested in buying part of Transpetrol, but
dropped all talks after a request from Gazprom Neft, Russneft's former head,
Mikhail Gutseriyev, has said.
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