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European Commission approves Rosneft’s takeover of TNK-BP

March 09, 2013, 1:21 UTC+3
The anti-monopoly regulator does not see any problems over a possible violation of the competition in the deal
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BRUSSELS, March 9 (Itar-Tass) – The European Commission approved Rosneft’s takeover of TNK-BP. The anti-monopoly regulator does not see any problems over a possible violation of the competition in the deal, the supreme executive body of the European Union said in a press release on Friday.

The experts also studied a possible influence of the Russian government on the striking of the deal. This issue eventually remains open, the European Commission said in a statement.

Rosneft stated that the agreement was reached to buy the full TNK-BP stock from the TNK-BP co-owners in October 2012. BP was to receive 17.1 billion dollars and 12.84% of treasury shares of the Russian state-run oil company Rosneft for its stake, the AAR consortium was to receive 28 billion dollars.

 

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