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Rosneft Wants to Take over Majority of TNK-BP

Published: September 30, 2013; 13:35 · (Vindobona)

The World’s biggest oil company Rosneft intends taking over British-Russian joint venture TNK-BP at the beginning of next year.

Rosneft Wants to Take over Majority of TNK-BP / Picture: © Rosneft

After lengthy negotiations, Rosneft announced offering around € 1.1bn for the remaining five percent in TNK-BP, which is currently held by minority shareholders. The amount offered is exeeding the current value of the shares. However, it is still only around half of what Rosneft paid for the majority in TNK-BP.

The parties involved have been negotiating about an adequate price.…

This article includes a total of 208 words.

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