We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

$8B BP-Rosneft Deal To Remain On Hold For Now

Law360 (April 8, 2011, 7:09 PM EDT) -- BP PLC announced Friday that an injunction placed on its proposed $7.8 billion share swap with Russian state-owned oil company Rosneft by a U.K. court would remain in place indefinitely.

However, there is a possibility that the April 14 deadline for the termination of the share swap agreement would be extended, pending negotiations, according to BP.

The arbitration tribunal ruled against the deal in March and said that a preliminary injunction issued by the High Court of Justice in London that blocked the deal with Rosneft...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.