ROSNEFT INCREASES SHAREHOLDING
Russia's OJSC Rosneft has entered a deal with BP PLC to dissolve their Ruhr Oel GMBH (ROG) joint venture as part of a plan by the companies to restructure their refining and petrochemical businesses in Germany.
Now signed, the binding agreement for ROG's dissolution follows approvals by the companies' boards on Dec. 31, 2015, and Jan. 14, Rosneft and BP said.
As part of the restructuring deal, Rosneft will become a direct shareholder and increase its shareholding in three of ROG's four refineries as follows:
- To 25% from 12.5% in the 11…
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