AAR to make 'competitive' bid for BP's 50% stake in TNK-BP: tycoon

An offer would raise the prospect of a bid contest between AAR and Russia's top crude producer Rosneft, which has also expressed interest in BP's stake in TNK-BP, Russia's third-largest oil company.

“We have to make an offer to BP before Oct. 17, when a 90-day negotiation term expires. There is no final decision on BP's stake valuation, but in any case it would be competitive,” Khan told the newspaper.

Under a shareholder agreement, AAR has the exclusive right to make an offer by a mid-October deadline that falls 90 days after BP put the stake up for sale. Other suitors may then seek to strike a deal, creating the prospect of a bidding contest.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	World markets push higher ahead of US jobs data

NEXT ARTICLE
More Singapore firms hire ex-cons amid a labor shortage: gov't official

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit