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Response to Tansy_Gold (Original post)

Mon Mar 25, 2013, 07:37 AM

16. BP to return $8 billion to shareholders from TNK-BP sale

http://www.reuters.com/article/2013/03/22/us-bp-buyback-idUSBRE92L05S20130322

British oil company BP (BP.L) announced on Friday an $8 billion share buy-back program, acting swiftly on its promise to reward investors after it sold its stake in its Russian unit, TNK-BP (TNBP.MM).

BP, which completed the sale of the half-owned TNK-BP to Russian state oil firm Rosneft (ROSN.MM) on Thursday, said the move, designed to increase the value of remaining shares, was an amount equivalent to the value of the company's original investment in TNK-BP in 2003.

The British company had already flagged that it planned to distribute to shareholders some of the $12.48 billion it netted from the Russian sale, first announced last October...

MORE DETAILS AT: http://www.bloomberg.com/news/2013-03-22/bp-to-buy-back-8-billion-of-shares-after-completing-tnk-bp-sale.html

MY ALERT SYSTEM IS RINGING LIKE CRAZY...

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