Rosneft Approves $14.2B Deal to Buy TNK-BP
Russia's Rosneft announced Wednesday that its board of directors has approved a $14.2 billion financing deal to pay for the acquisition of 50 percent of TNK-BP.
The firm said its board met Monday to make the decision to execute the financing from a group of international banks in order to purchase shares owned by the Alfa-Access-Renova (AAR) consortium.
The meeting also saw the directors agree to expand its cooperation with ExxonMobil and to remove Gani Galiyev from its management board, while appointing two new members: Vice President Yuri Kalinin and acting VP Andrey Votinov.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Russia's Rosneft Signs Oil Supply Deal With Greece's Motor Oil (Nov 20)
- Eni Looks To Strengthen Ties With Rosneft, Maybe In LNG (Oct 19)
- Kremlin Oil Major Piles Up Investments In Iraq's Kurdistan Amid Crisis (Oct 18)
Company: TNK-BP more info
- Rosneft Board Member Rejects Criticism of TNK-BP Buyout (Oct 04)
- Rosneft: TNK-BP Integration 'Mostly Complete' (Jun 20)
- TNK-BP Acquisition Boosts Rosneft's 1Q Production (Apr 30)