UPDATE: 10/22/12, 10:00 a.m. EDT. The BBC reports that BP has agreed to sell its 50 percent stake in the TNK-BP joint venture to Rosneft for $17.1 billion in cash and a 12.84 percent stake in Rosneft. Cleary M&A partners Russell Pollack and Daniel Braverman, antitrust partner Antoine Winckler, and finance partner Murat Akuyev are advising Rosneft on the deal, while Linklaters global corporate head Jeremy Parr, corporate partner Stephen Griffin, and litigation partner Michael Bennett are representing longtime client BP.
Cleary Gottlieb Steen & Hamilton, Linklaters, and Skadden, Arps, Slate, Meagher & Flom have landed lead roles advising various parties on a proposed $28 billion cash-and-stock deal that could see Russian governmentbacked Rosneft take control of the TNKBP joint venture between British oil giant BP and four Russian oligarchs.
