Baikalfinansgrup is a Russian financial services company that has made significant strides in the market. Founded in 1997, Baikalfinansgrup has been in operation for over two decades.
The company has undergone several acquisitions over the years, expanding its reach and capabilities. Its acquisition history is a testament to its growth and adaptability.
Baikalfinansgrup's financial services include lending, leasing, and factoring, among others. These services cater to a wide range of clients, from individuals to businesses.
Baikalfinansgrup's headquarters is located in Rostov-on-Don, Russia, a region known for its rich history and cultural heritage.
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Company Profile
Baikalfinansgrup was created on December 6, 2004, with a share capital of 10,000 rubles (US$358).
Its original registered address was in the north-western Russian city of Tver, but Baikalfinansgrup later moved its legal address to the head office of Rosneft Oil Company.
Baikalfinansgrup was able to secure a credit of US$1.7 billion from the state-owned Sberbank savings bank as a down-payment for participating in the auction.
Baikalfinansgrup is a limited liability company that operates in the oil industry.
The company's owner is Baikalfinansgrup, which is also the owner of Rosneft Oil Company.
Baikalfinansgrup was able to acquire 19% of Yuganskneftegaz, a subsidiary of YUKOS Oil Company, through the auction.
Baikalfinansgrup's bid of 76.79 billion rubles (2 billion US dollars) was significantly higher than the market value of Yuganskneftegaz at the time.
The company's acquisition of Yuganskneftegaz was facilitated by a $1.7 billion loan from Sberbank.
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Acquisitions
Baikalfinansgrup made a surprise bid for Yuganskneftegas, a unit of OAO Yukos, and won the auction with a $9.37 billion bid.
The company's acquisition of Yuganskneftegas is a significant one, as it provides Baikalfinansgrup with control over a major oil producer. Yuganskneftegas supplies around 60% of Yukos' total oil production, which is currently around 1.7 million barrels per day.
Baikalfinansgrup's bid was made possible by a surprise injunction from a US bankruptcy judge in Houston, which froze financing packages for potential bidders. This allowed Baikalfinansgrup to make a bid despite the injunction.
Baikalfinansgrup's bid was significantly lower than what some analysts thought was the fair market value of Yuganskneftegas. Theede called the price "half what should have been paid."
Baikalfinansgrup is registered in Tver, a central Russian region, and shares an address with Gazprom in Tver.
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