Glencore, QIA sell 14.16% stake in Rosneft to China’s CEFC

MOSCOW, Sep 8 (PRIME) -- A consortium of Swiss trader Glencore and the Qatar Investment Authority (QIA) is selling a 14.16% stake in Russian oil major Rosneft to China’s CEFC, Glencore said in a statement on Friday.

Glencore and QIA bought 19.5% in Rosneft in December 2016 during the company’s privatization.

The shares will be sold with a premium of around 16% to the average price over the last 30 days.

As a result of the deal, Glencore will have 0.5% in Rosneft, and QIA will own 4.7%.

Rosneft’s shares grew over 2% on the Moscow Exchange on the statement.

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