What is "baikalfinansgrup"

Baikalfinansgrup is a Russian limited liability company owned by Rosneft Oil Company. It is best known as the company that won the December 19, 2004 auction for a 76.79% share in Yuganskneftegaz, formerly the core production subsidiary of Yukos Oil Company. Baikalfinansgrup won the auction with a bid of 261 billion rubles (US $9.3 bn), which was somewhere between 37-49% of Yuganskneftegaz’ market value at the time, according to an appraisal made by Dresdner Kleinwort Wasserstein and JPMorgan Chase & Co. 1.