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AAR considering sale of TNK-BP stake to Rosneft - Vedomosti

10:50 04/02/2011

The Russian AAR consortium (Alfa Group, Access and Renova) may sell its stake in Russian-British oil venture TNK-BP to Russia's largest oil company, Rosneft, the Vedomosti business daily reported on Friday.

A deal could take the form of a swap of TNK-BP shares for shares in Rosneft, either wholly or partly in cash, Vedomosti says, citing a source close to TNK-BP, Rosneft and the Russian government.

Rosneft could buy a 50% stake in the venture from AAR, and buy a 1% stake in it from BP, to gain a 51% controlling stake.

Earlier this week, AAR shareholders took out a court injunction in London to block Rosneft and BP's $16 billion share swap deal, which was announced in January, until February 25. They claimed it was in contravention of BP's tie-up with TNK in TNK-BP, and would be detrimental to their interests.

MOSCOW, February 4 (RIA Novosti)

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RIA NovostiTNK-BPAAR considering sale of TNK-BP stake to Rosneft - Vedomosti

10:50 04/02/2011 The Russian AAR consortium (Alfa Group, Access and Renova) may sell its stake in Russian-British oil venture TNK-BP to Russia's largest oil company, Rosneft, the Vedomosti business daily reported on Friday.>>

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