Related News AAR https://www.tradearabia.com/news/OGN_232702.html
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Rosneft paid $27.73 billion cash to AAR for its half of Russia's third-largest crude producer.
The deal with BP nets the British company $12.48 billion in cash, including a $700 million dividend paid out in December after the deal was struck, plus an 18.5 percent Rosneft stake that lifts its holding in the state firm to 19.75 percent.
BP will have two seats on the Rosneft board, including one offered to Dudley, who served as chief executive of TNK-BP until 2008.
The AAR part of the deal will share the cash pot between Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik, all of whom emerged as tycoons after the Russian privatisations of the 1990s.
Khan, who effectively heads TNK-BP and is Fridman's partner in the Alfa Group consortium, sought advice and broached potential partnerships.
"Alfa Group is currently setting up a major, new international investment business which draws on the group's significant expertise in oil and gas and telecoms, looking for long-term, strategic investment opportunities in Russia, North and South America, Asia and Africa," Stan Polovets, the CEO of AAR, told Reuters.
He added that the new company will receive a significant part of the proceeds from the sale of TNK-BP, of which Alfa Group's share is close to $14 billion.
Sources have told Reuters that mining tycoon Vekselberg of the Renova Group and Blavatnik of Access Industries, are likely to bow out and focus on other ventures and charity work.