AAR To Invest Main Proceeds From TNK-BP Sale In Russia - Report

MOSCOW--The AAR consortium of Soviet-born billionaires will invest the main proceeds from a sale of stake in Russo-British
oil venture TNK-BP (TNBP.RS) into Russia's economy, Interfax news agency reported Tuesday, citing an AAR statement.
The decision was announced less than a week after Russia's President Vladimir Putin urged the AAR consortium, which sold its stakes in TNK-BP to state-controlled OAO Rosneft (ROSN.RS), to reinvest the proceeds domestically.
Rosneft in October agreed to buy out BP PLC (BP, BP.LN) and the AAR in a deal worth a total of $55 billion, the largest takeover in Russia's post-Soviet history. The AAR tycoons-Mikhail Fridman, German Khan, Viktor Vekselberg and Len Blavatnik-will get more than $28 billion when the deal closes in the first half of 2013.
Earlier this week, Rosneft said it had raised $16.8 billion in bank loans and was also planning to sign a trade-finance package with two international oil traders to finance the buyout of TNK-BP.