Oil's Dealmaking 'Sun King' Returns: the New Life of John Browne - Bloomberg:
John Browne’s return to the top of an oil company started with a phone call from a Russian oligarch who had $10 billion burning a hole in his pocket.
“Mikhail Fridman said: ‘Would you like to invest some money for me?”’ Browne recalled in an interview, relaxing in a white chair in his characteristically stylish London office. “It was very attractive.”
Browne, the consummate deal-making CEO who turned Britain’s BP Plc into a global oil giant, already shared a very profitable history with Fridman. In the early 2000s, they put together Russian oil producer TNK with BP’s assets in the country to form a hugely lucrative joint venture. When it was bought out by state oil company Rosneft Oil Co. PJSC in 2013, Fridman came away with a pile of cash.
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