22 Oct 2012 16:00

Rosneft chief estimates cost of deal to buy 100% of TNK-BP at $61 bln

MOSCOW. Oct 22 (Interfax) - Rosneft President Igor Sechin has estimated the cost of the deal to consolidate 100% of TNK-BP at $61 billion.

"Taking Rosneftegaz's stock into account, this deal will require $61 billion - the third largest deal in the world," Sechin said during a meeting with Russian President Vladimir Putin.

"The price of Rosneft's shares for the purposes of the deal has been named and approved in the agreement at $8 per share," Sechin said.

"This is a good price, even with a small premium," Prime Minister Putin said.