Russian oligarchs sell the stake at TNK-BP to state giant Rosneft – report

The Alfa-Access-Renova (AAR) consortium led by billionaire Mikhail Fridman has reportedly signed a deal to sell its 50% stake in the TNK-BP oil company to Russia’s state-owned oil major Rosneft for $28bn.

­Financial Times reported, citing its sources; however the shareholders’ decision isn’t final and could be reversed.

Rosneft had planned to buy a stake in TNK-BP, Russia’a third largest oil company, from BP rather than from AAR. AAR, which also includes billionaires German Khan, Viktor Vekselberg and Leonid Blavatnik, told BP that they “would sell their stake in the joint venture to a third party or sell some shares via an initial public offering if their bid for BP’s share in the venture is unsuccessful.”

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