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  • bpoil_co bpoil_co Jan 18, 2013 6:55 AM Flag

    Russia Antimonopoly Watchdog Approves Rosneft's TNK-BP Purchase - Reports

     

    Russia Antimonopoly Watchdog Approves Rosneft's TNK-BP Purchase - Reports
    Published January 17, 2013
    Dow Jones Newswires
    Russia's Federal Antimonopoly Service has approved OAO Rosneft's (ROSN.RS) purchase of Russian oil producer TNK-BP Holding (TNBP.RS), clearing the way for the state-controlled firm to become the world's largest listed crude producer, Russian news agencies cited the watchdog's head as saying Thursday.
    Igor Artemyev, the head of the Federal Antimonopoly Service, told reporters that Rosneft will be obliged to sell off some gas stations in regions where the companies will own more than half of the total, according to Interfax and Prime news agencies.
    Rosneft is acquiring TNK-BP, Russia's third-largest oil producer, from BP PLC (BP) and its partners in deals worth $55 billion that are expected to close in the first half of this year. BP will hold a 19.8% stake in Rosneft as part of its deal to sell out of TNK-BP.

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