Rosneft pays out in historic TNK-BP deal completion

Russian state oil company Rosneft has closed its deal to buy TNK-BP from UK-based BP and four tycoons, releasing US$40 billion (HK$310.5 billion) cash to the sellers and becoming a bigger oil producer than Exxon Mobil.

The US$55 billion (HK$426.9 billion) deal, which also gives BP a near 20 per cent stake in Rosneft, was announced last year after months of on-off negotiations. It is the biggest in Russia’s corporate history.

via Business feed http://www.scmp.com/business/companies/article/1197051/rosneft-pays-out-historic-tnk-bp-deal-completion