Deals & Suits

Corporate Counsel


BP Asset Sales

BP p.l.c. has been on a selling spree. In October the company struck a deal to sell its 50 percent stake in TNK–BP, Russia's third-largest oil company, to OAO Rosneft Oil Company. BP will receive $12.3 billion in cash and an 18.5 percent stake in Rosneft worth about $14 billion. The parties hope to close the deal within six months. Rosneft will buy the rest of TNK–BP from Alpha Access Renova, or AAR, the consortium of Russian billionaires that owns the other half of the company.

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