Rosneft To Spend $28B For Remaining Half Of TNK-BP

Law360, New York (December 12, 2012, 12:42 PM EST) -- Russian energy giant OAO Rosneft will complete its $55 billion purchase of competitor TNK-BP Ltd. after agreeing to acquire the 50 percent stake in the company held by a consortium of Russian tycoons for $28 billion in cash, Rosneft said Wednesday.

Rosneft's purchase from AAR Consortium is subject to approval from Russian and European antitrust regulators and is expected to close in the first half of 2013. AAR is an alliance of Alfa Group, Access Industries and Renova Group — three private investment firms linked to...
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