Reuters: Mergers News: BP looks to sell stake in TNK-BP

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

BP looks to sell stake in TNK-BP Jun 1st 2012, 06:15 LONDON, June 1 | Fri Jun 1, 2012 2:15am EDT LONDON, June 1 (Reuters) - BP said on Friday it will look to sell its shareholding in TNK-BP after the British oil major received unsolicited indications of interest in its stake in the Russian joint venture. "In light of these unsolicited approaches and consistent with its commitment to maximising shareholder value, and its obligations under the shareholder agreement, BP has notified Alfa Access Renova of its intention to pursue a potential sale," a statement said on Friday. TNK-BP is a leading Russian oil company, owned equally by BP and Alfa Access Renova.

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