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Rosneft to buy TNK-BP for $54.8 billion, the third-largest oil deal in history

8:23 AM MDT | October 26, 2012

Dudley: BP to be a long-term investor in Rosneft. State-owned oil company Rosneft (Moscow) has agreed with Alfa Access Renova (AAR; Moscow) to acquire AAR’s 50% interest in oil joint venture 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. Announcement of that deal followed soon after Rosneft agreed to buy BP’s 50% share in TNK-BP for $26.8 billion in cash and shares in Rosneft. The overall, $54.8-billion purchase of TNK-BP is the...

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