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Rosneft close to finalising TNK-BP deal with tycoons-sources
December 11, 2012 / 3:01 PM / 5 years ago

Rosneft close to finalising TNK-BP deal with tycoons-sources

MOSCOW, Dec 11 (Reuters) - Rosneft is set to announce in the coming days that it has finalised a deal to buy half of Anglo-Russian oil company TNK-BP from AAR for $28 billion, several sources familiar with the situation said.

Last month, Rosneft head Igor Sechin said the company and the AAR consortium of Soviet-born tycoons should sign a binding agreement regarding the deal in December.

In October Rosneft signed a memorandum of understanding to buy AAR as part of a $55 billion takeover in which it will also acquire British group BP’s 50 percent stake in TNK-BP, Russia’s third-largest oil company.

The BP leg of the deal, already approved at board level and by the government, should close in the first half of 2013.

Rosneft and AAR declined to comment.

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