Deals
M&A News: BP, Rosneft, CSM, Rhone Capital, Allianz, Bidvest Group
Noteworthy expenditures of the week
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1. London-based BP plans to buy back $8 billion of its own shares after completing a deal to sell its entire 50 percent of Russian oil producer TNK-BP to Rosneft. BP will have a 19.8 percent stake in Rosneft, Russia’s biggest oil company.
2. The Netherlands’ CSM is selling its bakery supplies unit to New York buyout firm Rhone Capital for about $1.3 billion including debt.