Stake in Rosneft held by Glencore-QIA Consortium

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

Get the Latest Gas Investing Stock Information

Get the latest information about companies associated with Gas Investing delivered directly to your inbox.

Gas

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply