TNK-BP Launches Bid for Troubled Sibir

摘要

Russian-UK joint venture TNK-BP has launched an offer to buy a stake in UK-listed Sibir Energy, increasing the possibility that the upstream independent will be the next midsized Russian oil firm to fall victim to the global financial crisis. The offer values Russia-focused Sibir at $2.4 billion. Banking giant Credit Suisse said it had launched an accelerated bookbuild to buy a significant minority stake in Sibir at a price of ￡4.30 ($6.26) per share on behalf of TNK-BP, which is half-owned by UK supermajor BP.