The Russian state-owned energy company Rosneft reached agreements on Monday worth a combined $55 billion that will give it control of TNK-BP, a joint venture partly owned by the British energy giant BP.
Under the terms of one the deals to sell its stake in TNK-BP, BP said it would receive $17.1 billion in cash and shares representing 12.84 percent of Rosneft.
“Exactly in line with fair value,” Stuart Joyner, an analyst with Investec in London, said of the price, “which is a good achievement.”
The deal is conditioned on the Russian government selling a 5.7 percent stake in Rosneft to BP for $4.8 billion.
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