| Rosneft Wins Fifth Auction for Yukos Assets
A subsidiary of Russias state-run oil producer Rosneft has won the fifth auction for smaller assets of the now bankrupt oil company Yukos, the countrys federal property fund said on Wednesday, April 18.
Yukos, once Russias largest private oil company, was declared bankrupt Aug. 1, 2006, after three years of litigation with tax authorities over the companys tax arrears.
Rosnefts subsidiary Neft-Aktiv was declared the auction winner after it offered 1.03 billion rubles (about $40 million) for the lot whose initial price was 992.31 million rubles (about $38.5 million). The other bidders included the companies Akkord and MorTransInvest, the fund said.
The first auction was held on March 27 to sell Yukos 9.44 percent stake in Rosneft. It was won by Rosnefts subsidiary RN-Razvitiye, which offered 197.84 billion rubles for the lot (about $7.6 billion), compared with the lots initial price of slightly over 195.5 billion rubles (about $7.5 billion).
Insurance Auto Auctions Opens in Western Colorado
WESTCHESTER, Ill.--(BUSINESS WIRE)--April 17, 2007--Insurance Auto Auctions, Inc., a leader in automotive and specialty vehicle auction services in the United States, today announced the opening of its newest auction center - Western Colorado - in Delta, located about 30 miles south of Grand Junction. The new 10-acre facility will provide service coverage to western Colorado as well as portions of southern and southeastern Utah. Live auctions at Western Colorado will include the I-bid LIVE(sm) internet bidding platform that combines live auctions with live auction internet bidders. This format, standard at all IAA locations, has maximized selling prices at IAA auctions across the United States. The new auction center is IAA's 2nd location in Colorado and follows the January opening of a new state-of-the-art facility in Denver.
Insurance Auto Auctions, Inc. Announces It Has Received Requisite ...
WESTCHESTER, Ill.--(BUSINESS WIRE)--April 6, 2007--Insurance Auto Auctions, Inc. (the "Company") announced today that it had received, as of 5:00 p.m., New York City time, on April 5, 2007, tenders and consents from holders of 100% of the aggregate principal amount of the Company's outstanding 11% Senior Notes due 2013 (the "Notes") in connection with its cash tender offer and consent solicitation for the Notes, which commenced on March 22, 2007. The tender offer and consent solicitation is being conducted in connection with the previously announced merger and related transactions that will result in the Company and ADESA, Inc. becoming wholly owned subsidiaries of KAR Holdings, Inc. (the "Merger"). The completion of the tender offer and consent solicitation is conditioned on, among other things, the closing of the Merger.
Dan Rooney, Sidney Crosby Snag Dapper Dan Awards
(KDKA) PITTSBURGH Athletes, coaches and other sports celebrities came out to attend the 71st annual Dapper Dan Dinner and Sports Auction.The event took place at the David L. Lawrence Convention Center.Pittsburgh Steelers Chairman Dan Rooney received the Lifetime Achievement Award.Sidney Crosby and Swin Cash were also honored as Sportsman and Sportswoman of the Year. .
Valley fair ready for kickoff
It's that time of year again - when the smell of a good, old-fashioned corndog invites thousands to the Salinas Valley Fairgrounds in King City and this year's 63rd annual Salinas Valley Fair. The fair offers many scrumptious temptations along the midway as well as live auctions, informative displays and plenty of family fun. This year's theme is "Come Jam with Us in Steinbeck Country." .
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