Company news in June 2004 | |||
TNK-BP to Register New Russian Holding in Tyumen
June 24, 2004, Thursday
Information on the resolution taken by TNK-BP''s Board of Directors to start development of a comprehensive corporate reconstruction plan, which is to be based on establishment of New Russian Holding (NRH) that is to become the core profit center. It was noted that by reconstruction the company wants to streamline the corporate organizational setup and thus to achieve more efficient and transparent management. Additionally, NRH would consolidate stakes of minority shareholders in TNK-BP''s subsidiaries. This would enable such shareholders to fairly share the company''s successful performance. In accordance with the developed proposals, NRH is to be registered in Tyumen and to become TNK-BP''s core profit center.
Source: Kapital AEN