Bashneft sells its stake in Financial Alliance
Bashneft has concluded a contract for the sale of its 50% stake in the authorized capital of LLC Financial Alliance (a professional rolling stock operator) to JSFC Sistema. The transaction was approved by Bashneft’s Board of Directors on December 20, 2012. This transaction forms part of Bashneft’s strategy for the divestment of non-core assets, which is aimed at enhancing operational efficiency and promoting competition on the market …
AAR in Non-binding Agreement to Sell TNK-BP Stake to Rosneft for $28bn USD
The Russian-based businessmen whose joint venture with BP has been plagued by years of in-fighting have agreed an outline deal to sell their stake to the state-owned oil giant Rosneft for about $28bn (£17.3bn), reported Mark Kleinman, City Editor, Sky News. AAR, a consortium of four oligarchs (Len Blavatnik, Mikhail …
Rosneft and ITERA Group Close Deal to Create Joint Venture to Produce and Sell Gas
Rosneft and ITERA Group have closed a deal to create a joint venture on the basis of ITERA Oil and Gas Company to produce and sell gas in line with the terms of a strategic cooperation agreement signed on 28 February 2012. Rosneft obtained 51% in the joint venture in …