News Videos
International Edition


May 28, 2017

Breaking News, World News and Taiwan News.
About Us
Contact Us

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

MOSCOW -- The billionaire quartet that owns half of TNK-BP will make a "competitive" offer for BP's 50-percent stake in the Anglo-Russian oil firm by Oct. 17, German Khan, one of the tycoons in the group, told the Kommersant daily on Thursday.

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.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive our promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search