By Kevin McCauley
Pelham Bell Pottinger represents Rosneft’s buyout of BP’s Russian energy properties, a move that gives the government of Vladimir Putin greater control over his country’s natural resources.
Rosneft, the state-owned company, says the 50 percent buyout of its former partner, will create “significant value” for its stakeholders.
BP is to receive $17.1B in cash and a 12.8 percent stake in Rosneft, which it believes will provide better access to the Kremlin for future deals.
The British company is in line for two seats on Rosneft’s nine-member board.
Pelham Bell Pottinger is part of Lord Bell’s Bell Pottinger Private group that recently split from Chime Communications.
Staffers James Henderson, Nick Lambert, Rollo Crichton-Stuart and Elena Dobson handle the Rosneft transaction.
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