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AAR is willing to sell its 50% holding in TNK-BP to BP (BP) for cash and a 10%-12% stake in the...

AAR is willing to sell its 50% holding in TNK-BP to BP (BP) for cash and a 10%-12% stake in the U.K. oil major, AAR tells BP's shareholders. Alternatively, AAR, which represents four Soviet-born tycoons, is willing to acquire half of BP's stake in their JV at the market price of around $10B. (previous)
Comments (1)
  • mekats
    , contributor
    Comments (103) | Send Message
     
    Translation: The AAR principals are JV sellers for $15-$20 bns. (valuing BP stock + some cash) and JV buyers for $10 bns. Surely there must be an equitable buy/sell feature in the arrangement where there is a more objective value determination and not such a gap.
    16 Jul 2012, 12:42 PM Reply Like
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