October 22, 2012 / 11:29 AM / 7 years ago

Putin blesses full takeover of TNK-BP by Rosneft

NOVO-OGARYOVO, Russia (Reuters) - Russian President Vladimir Putin on Monday blessed a full takeover by state oil major Rosneft of Anglo-Russian oil venture TNK-BP, calling it a good deal at a good price.

Putin was speaking at a meeting with Rosneft CEO Igor Sechin, who said Rosneft had agreed to buy 100 percent of TNK-BP from its shareholders, British oil major BP and the AAR consortium representing four Soviet-born tycoons.

In a statement, Rosneft said it would pay $28 billion for AAR’s one-half stake in TNK-BP, which Sechin said would be comparable in value to the cash and stock deal buyout of BP’s stake.

Reporting by Darya Korsunskaya; Writing by Douglas Busvine; Editing by Melissa Akin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below