According to Petrol World News, the auction was a closely fought battle that resulted in 61 bids and counter bids. The auction reportedly became a one-on-one struggle between Yunitex and Shell, before the mystery company issued the winning bid of RUB12.46 billion ($484.3 million).
The industry publication reported that the price Yunitex paid to acquire Yukos’ fuel retail network, which was being auctioned as part of the company’s bankruptcy proceedings, was 62% higher than the starting price of RUB7.7 billion.
Petrol World News cited a Shell spokesman as saying that the company participated in the auction while the price was one that the company considered to be ‘economically acceptable.’
Although the corporate identity of Yunitex is as yet unknown, industry observers have reportedly linked the company to Russian state-owned gas behemoth Gazprom. This speculation may have some grounding, as, so far in the bankruptcy proceedings, the Kremlin has sought to keep Yukos’ assets in Russian hands.
Nevertheless, Petrol World News said that Yunitex refused to comment after the auction.
