Rosneft to buy out rest of Itera for $3 billion

5/29/2013

Rosneft to buy out rest of Itera for $3 billion

MOSCOW -- Rosneft is buying out its partner in the gas firm Itera for $3 billion, Russian daily Kommersant reported citing people familiar with the matter.

Rosneft last fall acquired a 51% stake in Itera, seeking to expand its position as a gas producer.

Rosneft is now buying the remaining 49% from businessman Igor Makarov and his partners, Kommersant reported.

A spokeswoman for Rosneft didn't immediately respond to a request for comment.

Rosneft became the world's largest listed crude oil producer in March after acquiring TNK-BP in deals worth around $60 billion.

Dow Jones Newswires

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