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Russia's Rosneft buys out 98 pct of ex-TNK-BP minorities

Thu, 23rd Jan 2014 16:30

MOSCOW, Jan 23 (Reuters) - Russian state oil company Rosneft said on Thursday it had received acceptances of itsbuyout offer from 98 percent of minority shareholders in theformer TNK-BP Holding.

A tussle between Rosneft and minority investors followedRosneft's $55 billion takeover last March of the Anglo-Russianoil venture. The deal left investors owning 5 percent ofTNK-BP's listed business feeling short-changed.

Minorities of RN-Holding, the renamed TNK-BPHolding, tendered 2.3 billion shares, equal to 98.23 percent ofthe shares for which the offer had been made. Rosneft plans topay for the shares by Feb. 19.

In September, Rosneft offered them 67 roubles ($2.06) perordinary share and 55 roubles per preferred share.

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