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Gazprom May Take Control Of TNK-BP Before Year End - Report
Apr 24, 2008 02:00:01 (ET)
MOSCOW (Dow Jones)--Russia's state-controlled gas monopoly OAO Gazprom (GAZP.RS) may take control of BP PLC's (BP) Russian joint venture TNK-BP (TNBP.RS) before the end of the year in a deal worth up to $20 billion, the Vedomosti daily reported Thursday, citing unnamed sources close to both Gazprom and TNK-BP.
Gazprom will buy out TNK-BP's three Russian shareholders Mikhail Fridman, Len Blavatnik and Viktor Vekselberg, who together control 50% of the company through their investment vehicles Alfa Cement (ALCE.RS), Renova Holdings (RNVO) and Access Industries, the newspaper said.
At the same time Gazprom will acquire a 1% stake from BP, thereby gaining a 51% controlling stake in the company,
A principal decision on the deal, which may reach $20 billion, has already been taken, the sources said.
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Seems to be waking up a bit. .0004 lod .0003 hod .0006 NOT A BUY REC.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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