Law360, New York (February 22, 2013, 12:39 PM EST) -- The Russian Federal Antimonopoly Service (FAS) has cleared Rosneft’s $55 billion acquisition of TNK-BP, subject to divestments and conduct remedies. The deal will reduce the number of major oil companies in Russia from four to three and arguably will make Rosneft the world’s largest public oil and gas company engaged in the production of liquid hydrocarbons.
Third Largest Oil Deal
The transaction allows Russian state energy company, Rosneft, to take control of TNK-BP, a joint venture between BP and Alfa-Access-Renova, a consortium of Russian billionaires. TNK-BP...
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