Russia's Rosneft buys out 98 pct of ex-TNK-BP minorities

MOSCOW Thu Jan 23, 2014 11:30am EST

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MOSCOW Jan 23 (Reuters) - Russian state oil company Rosneft said on Thursday it had received acceptances of its buyout offer from 98 percent of minority shareholders in the former TNK-BP Holding.

A tussle between Rosneft and minority investors followed Rosneft's $55 billion takeover last March of the Anglo-Russian oil venture. The deal left investors owning 5 percent of TNK-BP's listed business feeling short-changed.

Minorities of RN-Holding, the renamed TNK-BP Holding, tendered 2.3 billion shares, equal to 98.23 percent of the shares for which the offer had been made. Rosneft plans to pay for the shares by Feb. 19.

In September, Rosneft offered them 67 roubles ($2.06) per ordinary share and 55 roubles per preferred share.