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Article: Russia : Gazprom Neft Bid for Sibir Energy Prompts TNK-BP Exit.
- Article from:
- TendersInfo
- Article date:
- April 25, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
OAO Gazprom Neft, the oil arm of Russia s state-run natural-gas exporter, plans to buy at least 16 percent of Sibir Energy Plc after making an offer that prompted TNK-BP to withdraw a lower bid.
Gazprom Neft will acquire a significant minority stake, the bidder said today in an e-mailed statement. Investment bank Renaissance Capital will buy the shares on behalf of the Moscow- based company. The bid values London-listed Sibir at about 1.92 billion pounds ($2.8 billion), Bloomberg calculations show.
TNK-BP, the BP Plc joint venture that s Russia s third- largest oil company, dropped an offer to buy Sibir shares for 430 pence ...