BP is looking to sell its stake in its
UK-Russian joint venture TNK-BP after being approached by a potential buyer.
BP said today it has received unsolicited
indications of interest in the potential acquisition of its 50pc stake in
TNK-BP. It has notified its Russian partners Alfa Group and Access/Renova (AAR)
of its intention to pursue a potential sale.
BP did not reveal
the identity of the potential buyers. But its statement comes a day after the
Russian shareholders in TNK-BP offered tobuy out BPor convert their
holding into BP shares. TNK-BP, which was set up in 2003, no longer serves the
interests of either party, according to leading
AAR
shareholder Mikhail Fridman whoresignedas
TNK-BP chief executive earlier this week.