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TNK-BP Buys Fuel Complex

TNK-BP Holding, the traded unit of BP's Russian oil venture with a group of billionaires, is set to acquire the Koltsovo Airport fueling complex for about $100 million from one of the venture's shareholders.

TNK-BP's board voted in favor of buying the Koltsovo fueling unit for $30 million and the Aktiv unit for about $70 million, with a possible adjustment for debt, from Koltsovo Airport in Yekaterinburg, the Moscow-based company said in a regulatory filing Monday.

Viktor Vekselberg's Renova Group controls Koltsovo Airport as well as his stake in TNK-BP.

(Bloomberg)

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