Support The Moscow Times!

Rosneft Could Delist TNK-BP Shares if Minority Deal Fails

Rosneft said Wednesday it could delist shares in TNK-BP Holding, which it acquired last year, if its offer to buy out minority shareholders falls through.

In September, Rosneft offered to buy out minority owners of TNK-BP Holding, later renamed RN-Holding, for 67 rubles ($2.06) per ordinary share and 55 rubles per preferred share.

The offer disappointed some investors, who were hoping for a higher price.

On Wednesday, Rosneft said it would proceed with its initial offer, saying it would be effective for the next 75 days, until Jan. 20.

"Even if Rosneft is unable to complete, or decides not to proceed with such a buyout, Rosneft intends to seriously consider the possibility of delisting RN-Holding," Rosneft said in a regulatory filing.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.