Firm registers to buy Yukos assets

Russian investment firm ESN has applied to bid for assets of the bankrupt oil firm Yukos.

Russian investment firm ESN has applied to bid for assets of the bankrupt oil firm Yukos.

ESN, the leader of a consortium containing Italy's Eni and Enel, owns assets in the power and energy sectors and teamed up with the Italian firms in September to bid for Yukos assets when the firm is liquidated later this year.

An ESN spokeswoman did not say if the consortium was bidding or only ESN.

ESN, a partner with Enel in running a St Petersburg power plant, has 50.1 per cent of the consortium, while ENI and Enel have 30 and 19 per cent respectively.

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Eni has strong business ties with Russian gas monopoly Gazprom, widely seen as one of the most probable candidates for grabbing Yukos's most valuable assets.