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Rosneft has no liabilities to TNK-BP minority shareholders

October 31, 2012, 18:39 UTC+3
“If they wish to make some proposal to us, they are welcome,” - Igor Sechin said
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RYBINSK, October 31 (Itar-Tass) —— Rosneft has no liabilities to the TNK-BP minority shareholders, the company’s head, Igor Sechin, told the media.

“If they wish to make some proposal to us, they are welcome,” he said, adding that the company was prepared to study their ideas.

Rosneft on October 22, 2012 declared it had signed a framework agreement with the BP on acquiring a 50-percent stake in the TNK-BP in exchange for 17.1 billion dollars in cash and a 12.84-percent package of Rosneft treasury shares.

Also, the BP offered a buyout of 600 million shares of Rosneft (5/66 percent) from its parent company, Rosneftegaz, for eight dollars a share. Rosneftegaz may accept this offer by December 3, 2012.

Rosneft also agreed the main parameters of the deal with the AAR consortium (Alfa group, Access Industries and Renova) for the acquisition of the AAR’s 50-percent stake in the TNK-BP for cash – 28 billion dollars on the condition of agreement on the binding document, corporate and regulatory approvals and on some other terms.

 

 

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