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    oil and gas investing

    Stake in Rosneft held by Glencore-QIA Consortium

    Priscila Barrera
    Sep. 08, 2017 09:08AM PST
    Energy Investing

    The consortium (the Consortium) controlled by Glencore and Qatar Investment Authority has concluded an agreement with CEFC China Energy Company Limited (CEFC) regarding a transaction in terms of which the Consortium would dispose of a 14.16% stake in Rosneft Oil Company (Rosneft) to CEFC (the Shares) at a premium of approximately 16% to the 30 …

    The consortium (the Consortium) controlled by Glencore and Qatar Investment Authority has concluded an agreement with CEFC China Energy Company Limited (CEFC) regarding a transaction in terms of which the Consortium would dispose of a 14.16% stake in Rosneft Oil Company (Rosneft) to CEFC (the Shares) at a premium of approximately 16% to the 30 day volume weighted average price of Rosneft shares on 8 September 2017.
    As quoted in the press release:

    Following the transaction, Glencore and QIA would retain an economic interest in Rosneft shares commensurate with their original equity investment announced in December 2016, which amounts to approximately 0.5% and 4.7% respectively.

    Click here for the full text release

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