Rosneft Acquires BP's 50% Stake in TNK- BP; Inks Deal for Other 50%

摘要

Russian oil major Rosneft announced October 22 that it signed a deal to buy out BP's 50% ownership stake in TNK-BP for US$17.1 billion in cash and 12.84% of Rosneft shares. Rosneft also simultaneously announced a "heads of agreement" deal with AAR to acquire the other 50% interest in TNK-BP, which would make Rosneft sole owner. "In connection with the proposed transaction, BP has offered to purchase from Rosneft's parent, Rosneftegaz, at a price of $8 per share, an additional 600 million Rosneft shares, representing a 5.66% stake in Rosneft ," according to the company.