Russians to sell stake in BP's JV
Source: Agencies |
October 10, 2012, Wednesday
|
Print Edition
Print Edition
BP'S billionaire Russian partners in TNK-BP indicated yesterday that they are considering selling their stake in the oil joint venture or disposing of it through an IPO.
Moscow-based TNK-BP is jointly owned by BP and AAR, a group of Russian billionaire shareholders. The two partners have been locked in a boardroom dispute for much of the group's existence.
In June, BP said it intended to sell its 50 percent stake in TNK-BP, which AAR signaled it would be interested in buying. Among the other bidders for the share is Russia's largest oil company Rosneft.
Yesterday, AAR's chief executive Stan Polovets said it had notified BP of its intention to sell its holding as well.
Moscow-based TNK-BP is jointly owned by BP and AAR, a group of Russian billionaire shareholders. The two partners have been locked in a boardroom dispute for much of the group's existence.
In June, BP said it intended to sell its 50 percent stake in TNK-BP, which AAR signaled it would be interested in buying. Among the other bidders for the share is Russia's largest oil company Rosneft.
Yesterday, AAR's chief executive Stan Polovets said it had notified BP of its intention to sell its holding as well.
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