BP plc (BP) Affirms Talks for 50% TNK-BP Stake
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BP plc (BP) Agrees to Terms Over 50% TNK-BP Stake; Will Hold 19.75% of Rosneft Stock
October 22, 2012 7:10 AM EDTBP (NYSE: BP) today announced that it has signed heads of terms to sell its 50 per cent share in TNK-BP to Rosneft, the major Russian integrated oil and gas company. Under the heads of terms Rosneft has agreed in principle to buy BP's share in TNK-BP.
The proposed transaction consists of two tranches:
(i) BP would sell its 50 per cent shareholding in TNK-BP to Rosneft for $17.1 billion in cash and Rosneft shares representing a 12.84 per cent stake in Rosneft;
(ii) BP intends to use $4.8 billion of the cash... More
BP plc (BP) Affirms 90-Day Period in TNK-BP Shareholder Agreement Ended
October 19, 2012 8:35 AM EDTAt the request of the UK Listing Authority, BP plc (NYSE: BP) confirms that the 90 day period as set out in the TNK-BP shareholder agreement has concluded.
If and when BP reaches any agreement, it will make an announcement at the appropriate time.... More
BP plc (BP) Gets Interest from Roseneft for 50% Stake in TNK-BP Venture
October 18, 2012 9:58 AM EDTBP plc (NYSE: BP) shares are higher on the session Thursday following reports it might have gotten bids for its 50 percent stake in TNK-BP.
According to the WSJ, OAO Rosneft may have offered $25 billion in cash and stock for... More
