Rosneft finalises deal to buy TNK-BP stake from AAR

MOSCOW Wed Dec 12, 2012 4:02am EST

MOSCOW Dec 12 (Reuters) - State oil major Rosneft has signed a final deal to buy a one-half stake in Anglo-Russian oil from TNK-BP from the AAR consortium in a deal worth $28 billion, sealing Russia's largest ever takeover transaction.

Rosneft and AAR said in a joint statement on Wednesday that the deal should be completed in the first half of 2013 pending approvals from Russian and European regulators.

Rosneft is also acquiring the other half of TNP-BP, Russia's third-largest crude producer, from BP for cash and stock in a deal worth $27 billion.