Rosneft prepared to swap industry veterans' TNK-BP shares for its own shares
MOSCOW. Dec 23 (Interfax) - Rosneft is prepared to exchange TNK-BP Holding shares held by industry veterans for shares in Rosneft, the Russian state oil major's president, Igor Sechin told reporters.
"For industry veterans, we'll provide assistance in exchanging shares if they want and ask us. It's up to them," Sechin said.
Rosneft bought 100% of TNK-BP (TNK-BP International Limited) from BP and the AAR consortium in March, and declared that it would not buy out the shares of TNK-BP Holding minority shareholders.
However, in November, at the behest of the government, Rosneft announced an offer to buy out minority shareholders at a price of 67 rubles per common share and 55 rubles per preferred share in the company, which has been renamed RN Holding. Minority shareholders hold about 5% of RN Holding shares.
