Date: 7 months ago   Category: Energy

Glencore has closed the transaction on sale of QIA of 14,16% of stocks of Rosneft — Rambler News Service


Photo: globallookpress.com/Zamir Usmanov the Swiss trading company Glencore has closed the transaction on sale of 14,16% of stocks of Rosneft to Qatar investment fund Qatar Investment Authority (QIA), the company reports. "Transaction is complete. As the result of Glencore owns direct individual share in Rosneft of 0,57%, and QIA owns direct individual share in Rosneft of 18,93%" — it is said in the statement of the company. On May 4 it became known that Glencore and Qatar Investment Authority (QIA) have decided to disband consortium on holding of shares of Rosneft — the QHG Shares company. The consortium has concluded the agreement on transfer of 14,16% of stocks of Rosneft to 100% QIA subsidiary. Glencore will keep a share in Rosneft, commensurable with the initial investments into the share capital declared in January, 2017 that makes 0,57%, and QIA will have a share in 18,93%. As a result of the transaction of Glencore will receive about €3,7 billion on January 3, 2017 Glencore and sovereign fund Qatar Investment Authority (QIA) of Qatar have finished purchase of 19,5% of stocks of Rosneft. As a result the state budget of Russia has received 710,8 billion rubles ($11,1 billion, or €10,5 billion).

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