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euro adhoc: BP PLC
Mergers - Acquisitions - Takeovers
BP AND AAR CLOSE SLAVNEFT TRANSACTION (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
BP today announced that it has completed the deal to include Alfa
Group and Access-Renova's (AAR's) 50 per cent interest in Slavneft
into TNK-BP. Completion of the Slavneft transaction follows receipt
of regulatory approvals, including clearance from the European Union.
BP said it has paid some $1.4 billion in cash to AAR. This includes
interest charges covering the period from when the transaction became
effective on May 1, 2003.
TNK-BP and Sibneft, the other main owner of Slavneft, will continue
to work together to finalise an agreement to split the main assets of
Slavneft between them.
end of announcement        euro adhoc 16.01.2004

Further inquiry note:

Further enquiries:
BP press office, London, tel: +44 (0)20 7496 4076/5256/4708/4324/4827

Branche: Energy
ISIN: GB0007980591
WKN: 850517
Index:
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