11 Mar 2014 11:49

Rosneft launches final stage of RN Holding consolidation

MOSCOW. March 11 (Interfax) - Rosneft has posted an offer to squeeze out remaining shareholders in RN Holding.

The Russian oil giant acquired 96.5% of TNK-BP Holding, as RN Holding used to be known, in March last year. It increased its ownership to 99.7% issued shares or 99.54% ordinary shares as the result of a recently completed voluntary offer.

RN Holding said in a statement that the squeeze-out price was 67 rubles for ordinary shares and 55 rubles for preferred shares, as in the voluntary offer.