November 30, 2012 / 9:26 AM / 5 years ago

Rosneft and AAR may sign TNK-BP deal in Dec - Sechin

KHABAROVSK, Russia, Nov 30 (Reuters) - Rosneft should sign a binding agreement next month to buy half of oil company TNK-BP from the AAR consortium of Soviet-born tycoons, its president Igor Sechin told reporters on Friday.

“We will sign a binding agreement with AAR in December - I don’t have any doubts. We are working quickly with AAR too,” Sechin said after an extraordinary general meeting of Rosneft shareholders.

Rosneft has signed heads of agreement to buy out the tycoons for $28 billion in cash as part of a $55 billion deal in which it will also acquire BP’s 50 percent stake in TNK-BP, Russia’s third-largest oil firm.

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