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Rosneft finalizes acquisition of TNK-BP

Rosneft finalizes acquisition of TNK-BP

Russia's state-controlled Rosneft says it has sealed deals to gain control of TNK-BP and become the world's largest publicly traded oil producer.
Rosneft said Thursday it wrapped up the deal to acquire 50 percent of TNK-BP for $27.7 billion from the AAR consortium of Russian shareholders in TNK-BP, Russia's third-largest oil and gas producer. It also has completed the purchase of the other half of the company from BP for $16.7 billion and 12.84 percent of Rosneft shares.
BP separately bought an additional 5.7 percent in Rosneft from state Rosneftegaz company, raising its stake in Rosneft to 19.75 percent.
President Vladimir Putin met with Rosneft CEO Igor Sechin and BP CEO Bob Dudley to congratulate them on closing the deal.


Updated : 2021-05-10 04:44 GMT+08:00