November 22, 2012 / 3:10 PM / 5 years ago

UPDATE 1-Russia's Sberbank in talks over TNK-BP takeover finance

FRANKFURT, Nov 22 (Reuters) - Sberbank, Russia’s biggest bank, is in discussions over financing a takeover of oil company TNK-BP by state-controlled Rosneft, the lender’s Chief Executive German Gref said.

Banking sources last week said that Rosneft was receiving banks’ initial commitments to a $32.5 billion loan to back its $55 billion acquisition of TNK-BP.

“We are in consultations with Rosneft and if they have such a need we can discuss it (financing). But we don’t have any specific plans at the moment,” Gref told journalists on Thursday.

Rosneft is set to become the world’s top listed crude oil producer after it pulls off the biggest deal in Russia’s corporate history by snapping up TNK-BP, the No.3 domestic crude producer.

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