The Rising Influence of Rising Affluence

[DewDiligence]

Rosneft buys all of TNK-BP venture for $55B (!) in cash and stock:

http://online.wsj.com/article/SB10001424052970203406404578072260885637292.html

This deal had two components: $27B worth of stock paid to BP and $28B of cash paid to TNK-BP’s private owners. Rosneft now controls 40% of Russia’s overall production and becomes the largest-producing publicly-traded oil company in the world. BP ends up with a 20% equity stake in Rosneft.