Deals of the Year: Emerging Europe

Western Europe | Asia | Latin America | North America

Western Europe  | Asia | Latin America | North America

Best M&A deal

BP’s merger with TNK

Deal size: $9 billion

Date: February 2003

Arrangers: Merrill Lynch, Morgan Stanley, UFG, Alfa Bank, Goldman SachsRussia could not have asked for a better start to 2003 than the announcement of BP’s $9 billion merger with TNK in February. The eyes of the business world turned to Russia, which only five years earlier had defaulted on its debt. The deal seemed to symbolize the return of the federation’s economy to normality.

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