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Europe Daily Bulletin No. 8532

2 September 2003
Contents Publication in full By article 37 / 45
GENERAL NEWS / (eu) energy

British BP, which has concluded a merger agreement with Russian TNK, has announced the acquisition of SLAVNEFT. Half of the latter's capital will go to the future company, TNK-BP, which will be held at 50% by BP and 50% by the Russian group ALFA and its American partners from ACCESS-RENOVA. In exchange for these 25% from SLAVNEFT, BP will pay $1.35 billion, which gives the company a value of $5.4 billion. TNK-BP will produce around 1.2 million barrels per day with 113,000 employed.

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A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
WEEKLY SUPPLEMENT