Gorkana Insight & Analysis Team
Rosneft has been advised by Pelham Bell Pottinger in its $55bn acquisition of BP-TNK. This involved two separate deals with each of the joint owners BP and the consortium AAR, the latter of which has retained Hudson Sandler.
Pelham Bell Pottinger’s Posneft team includes James Henderson, Nick Lambert, Rollo Crichton-Stuart and Elena Dobson. The deal makes Rosneft the world’s largest traded energy producer. Under the terms of the deal with BP, NP will take almost a 20% holding in Rosneft and be entitled to two seats on the board.
AAR, the consortium of Russian shareholders in TNK-BP, comprises Alfa Group, Access Industries and Renova. The team at Hudson Sandler is led by Andrew Hayes and John Eisenhammer with support from Maria Ignatova and George Parker.
BP was advised by New Century, led by David Burnside and Alex Nekrassov with support from Tom Drummond.
New Century is retained by BP Russia to advise on corporate communications in the UK.
According to the Financial Times this is the largest transaction since 2010 and is the biggest oil and gas deal for a decade.