BP Enters Talks with its Partners to sell Stake in TNK-BP

BP says it is entering the next stage in the process to sell its 50% share in TNK-BP (Moscow), following a decision by Alfa Access-Renova (AAR; Moscow), BP’s partner, to exercise its right to enter a period of negotiation to purchase a part or all of BP’s share. BP is today entering a 90-day period of “good faith” negotiations with AAR as required by the TNK-BP shareholder agreement. BP says that it is also able to and will enter into negotiations with other interested parties in parallel for the sale of its share in TNK-BP. AAR is owned...

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