logo
Netherlands Russian Vodka
ASSOCIATED PRESS

'Hiccup!' Spirits low after vodka brand auction runs dry

Shareholders of dismantled Russian oil company Yukos were low in spirits after the top bid in an auction of several iconic vodka brands came up short

By MOLLY QUELL
Published - Dec 06, 2022, 02:58 PM ET
Last Updated - Jun 23, 2023, 07:46 AM EDT

THE HAGUE (AP) — Shareholders of dismantled Russian oil company Yukos were low in spirits Tuesday after the top bid in an auction of several iconic vodka brands came up short.

Financial holding company GML, which was the majority shareholder in Yukos before the Kremlin dismantled the energy giant in 2003, was hoping to sell the rights to Russian vodka brands Stolichnaya and Moskovskaya.

Two bidders each placed a $250,000 deposit to take a shot at winning the rights to use the Moskovskaya and Stolichnaya trademarks in Belgium, the Netherlands and Luxembourg. The auction lasted less than two minutes.

GML had reserved the right to reject the winning bid, which it did, deeming the offer too low. CEO Tim Osborne told reporters that regardless of the outcome, he was pleased his company could hold the auction after 17 years of legal wrangling.

Our Offices
  • 10kInfo, Inc.
    13555 SE 36th St
    Bellevue, WA 98006
  • 10kInfo Data Solutions, Pvt Ltd.
    Claywork Create
    11 km, Arakere Bannerghatta Rd, Omkar Nagar, Arekere,
    Bengaluru, Karnataka 560076
4.2 12182024