AAR says it is seeking to raise at least $20B to buy out BP's (BP +0.3%) 50% stake in the TNK-BP...

|About: BP p.l.c. (BP)|By:, SA News Editor

AAR says it is seeking to raise at least $20B to buy out BP's (BP +0.3%) 50% stake in the TNK-BP joint venture and has hired Rothschild to arrange syndication for the loan. The potential all-cash offer could lead to a serious competition to purchase BP's stake, which analysts have estimated is worth ~$25B, with Rosneft as the rival bidder.