Report: Glencore sees Rosneft shares still going to ChinaТs CEFC
MOSCOW, Mar 20 (PRIME) -- Mining giant Glencore still expects to complete the deal to sell part of its holding in Russian oil major Rosneft to ChinaТs CEFC, Reuters reported Tuesday citing Glencore chief executive Ivan Glasenberg.
CEFC China Energy Chairman Ye Jianming, under investigation in China over suspected economic crimes, will step down from his position at the Chinese conglomerate, officials said on Tuesday.
УThe deal might still happen... The deal was approved by the Chinese government,Ф he said.
Glencore and Qatar Investment Authority (QIA) earlier agreed to sell 14.16% in Rosneft to CEFC for 3.906 billion euros and an equivalent of U.S. $4.576 billion. The consortium will spend the entire sum to redeem a loan provided mainly by ItalyТs Intesa Sanpaolo and by several Russian banks to buy 19.5% in Rosneft during its privatization in December 2016.