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NK Rosneft' OAO Signs Agreement To Purchase AAR Consortium’s 50% Stake in TNK-BP Holding OAO


Tuesday, 11 Dec 2012 07:00pm EST 

NK Rosneft' OAO (Rosneft) announced that on December 12, 2012 it signed an agreement to purchase from the AAR Consortium (Alfa Group, Access Industries and Renova) its 50% stake in TNK-BP Holding OAO (TNK-BP). The purchase price in the transaction is determined based on the base value of AAR’s stake in TNK-BP of $28 billion. Completion of the transaction is subject to approvals from Russian and European antimonopoly bodies and is expected to occur in the first half of 2013. 

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