Exec: VTB to issue 5 bln euro loan to CEFC for Rosneft share deal

DAVOS, Jan 24 (PRIME) -- Russia’s second largest bank VTB has signed a deal to issue a 5 billion euro loan to CEFC China Energy to buy a stake in oil major Rosneft, VTB First Deputy CEO Yury Solovyov told PRIME on Wednesday on the sidelines of the World Economic Forum in Davos.

“We have already signed everything. Now the ball in the Chinese court -- when they take it. We have signed everything,” he said, but declined disclose any other details.

CEFC said in September 2017 that it will buy a 14.16% stake in the Russian oil major from a consortium of Glencore and the Qatar Investment Authority, strengthening energy ties between Moscow and Beijing. The deal’s sum stands at U.S. $9.1 billion.

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