TNK-BP to Build LatAm Presence

TNK-BP to Build LatAm Presence

Brazil Europe M&A

The Anglo-Russian oil company TNK-BP is close to expanding its footprint in the Latin American oil business by acquiring a 45% stake in Brazilian oil company HRT. Talk of the deal led HRT shares to climb in the Bovespa late last week, as the market expects a $1bn deal to be announced in early November. Officials at HRT declined to offer any specifics but said an announcement “will happen in days”. The deal is expected to give TNK-BP access to a 21-block exploration effort in the Amazon

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