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Harneys advises on $55 billion Rosneft takeover of TNK-BP

27 March 2013

Harneys advised on the closing of last week’s $55 billion mega-deal in which Russia’s state-owned oil company Rosneft took over TNK-BP.

Harneys acted as British Virgin Islands (BVI) counsel for BP, with Harneys Services as registered agent for TNK-BP.
“The closing took place inside our BVI office,” said Harneys partner Ross Munro. “This was a global transaction of huge significance, and in fact the largest takeover deal in Russian history.”

Munro led the team of Harneys’ lawyers working on the deal, which included senior associate Erica Mandryko.
Harneys worked with law firm Linklaters on the transaction.  
The deal makes Rosneft the world’s largest, listed oil producer.