Rosneft CEO: Ready to protect all TNK-BP shareholders

4/23/2013

Rosneft CEO: Ready to protect all TNK-BP shareholders

BY JAMES MARSON

MOSCOW -- Rosneft's CEO, Igor Sechin, said that the company is ready to protect all shareholders in oil firm TNK-BP Holding, in which Rosneft acquired a 95% stake last month.

"We intend to protect the rights of all shareholders" Mr. Sechin said at an investor day in London. "We are waiting for concrete proposals from minority shareholders."

Minority investors, who hold around 5% of TNK-BP Holding, hoped they would be offered a share swap or a buyout on the same terms. Instead, Rosneft said it could take billions of dollars in loans from TNK-BP subsidiaries.

Dow Jones Newswires

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