European investors may partake in Russia’s Rosneft privatization

BEIJING, Jun 27 (PRIME) -- European investors are interested in privatization of Russian state-run oil major Rosneft, Economic Development Minister Alexei Ulyukayev told reporters on June 25.

“For instance, Europe (is interested in this). They are interested as this is obviously a good asset,” he said.

The government plans to sell a 19.5% stake in Rosneft in the second half of 2016. Italy’s Intesa Sanpaolo acts as the investment consultant of the stake’s sale and New York-based White&Case as a legal one.

Earlier in June, Ulyukayev said that the government could sell 5–7% in Rosneft on the stock exchange and another part of the state stake to a strategic investor, but this is not an ideal scenario. Rosneft will be privatized in 2016 with a more than 50% likelihood, according to the minister.

End