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Rosneft to acquire the whole of TNK-BP for $54.8 billion in third largest oil deal ever (Update)

2:26 AM MDT | October 23, 2012 | Natasha Alperowicz

Rosneft has announced that it had agreed heads of terms with Alfa Access Renova (AAR) to acquire AAR's 50% interest in TNK-BP for $28 billion in cash. AAR is owned by a group of Russian billionaires, including Mikhail Fridman, Len Blavatnik, Viktor Vekselberg and German Khan.  The news follows an announcement on Monday that Rosneft signed heads of terms to buy BP's 50% share in the TNK-BP joint venture for $26.8 billion in cash and shares in Rosneft. The overall $54.8 billion purchase of TNK-BP is the third largest oil...

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