Linklaters, Cleary Gottlieb Steen & Hamilton and Skadden Arps Slate Meagher & Flom have secured lead roles on the multibillion-dollar sale of Russian oil joint venture TNK-BP to Rosneft. The deal, which is thought to be the second-largest oil transaction in history, will see BP - which owns TNK-BP in partnership with Alfa-Access-Renova (AAR), a consortium of Russian oligarchs - receive a $17.1bn (£10.7bn) cash payment from Rosneft, as well as a 12.84% share in the state-backed company.
October 18, 2012 at 09:42 AM
1 minute read
The original version of this story was published on Legalweek
Linklaters, Cleary Gottlieb Steen & Hamilton and Skadden Arps Slate Meagher & Flom have secured lead roles on the multibillion-dollar sale of Russian oil joint venture TNK-BP to Rosneft.
The deal, which is thought to be the second-largest oil transaction in history, will see BP – which owns TNK-BP in partnership with Alfa-Access-Renova (AAR), a consortium of Russian oligarchs – receive a $17.1bn (£10.7bn) cash payment from Rosneft, as well as a 12.84% share in the state-backed company.
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