Rus News Journal

Sale of actions LUKOIL

Investors will be overflowed by a stream of actions of the oil companies

Till now on check auctions only separate enterprises entering into vertically integrated oil companies were exposed. Most large from them - LUKOIL - will be on sale entirely, as appears from the order which have arrived yesterday in mailing of the State Property Committee #325 - r from 14. 02. 94. Auctions will pass from March, 13th till April, 14th.

LUKOIL by right can be considered as the oldest Russian oil company as in the form of concern it has arisen one year prior to the presidential decree which has appeared in the end of 1992 about creation of four vertically integrated companies into which number has entered and LUKOIL . And if today YUKOS and Surgutneftegaz Have serious problems with consolidation of the structures, and a partition Rosneft it was supposed initially, LUKOIL has turned to the oil empire operated from the uniform centre. Partly it is possible to explain it time odds which the company had, but mainly - a strong and dynamical management of the president of the company Vahid Alakbarov, before the deputy minister of the oil and gas industry of the USSR holding a post ( at it purely American pressure - so to the correspondent of this person the representative of one of the foreign companies) once has characterised. In connection with unity LUKOIL simultaneous exhibiting to auctions of all enterprises of the company and the holding looks quite natural unprecedented for the oil companies. we will go to be on sale a system and with songs - Leonid Fedun, the vice-president of the company supervising questions of privatisation has declared to the correspondent.
LUKOIL and its divisions should be exposed the first among the oil companies. However check auction of holding and its affiliated structures passes after end of sale of actions of the oil-extracting associations entering into two other largest Russian companies - joint-stock company Surgutneftegaz and joint-stock company YUKOS. It is connected by that in the State Property Committee with the assistance of the first deputy of chairman GKI Peter Mostovogo there was a numerous revision of plans of privatisation, and they have been reconsidered not in the best way for investors - on open check auctions is exposed all on 8,4 % of actions of each enterprise, while Yuganskneftegaz has exposed 12,25 % of an authorised capital stock, and Surgutneftegaz - 18,25 %. Sale of so small share holdings is caused by features of formation joint (for holding LUKOIL and its affiliated divisions) fund aktsionirovanija workers of the enterprises. The majority of actions of affiliated structures of holding has been transferred in the parent company.
experts notice that results of simultaneous sale at check auctions of actions of a considerable quantity of the oil enterprises can appear curious enough. Forces of investors will be sprayed, and it, most likely, will lead to low enough share price and will serve as not which indemnification to participants of auction for impossibility of acquisition of large packages.

ALEXANDER - KOVALEVSKY, ALEXANDER - TUTUSHKIN