UPDATE: Glencore, QIA cancel deal to sell 14.16% in Rosneft to CEFC - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Glencore, QIA cancel deal to sell 14.16% in Rosneft to CEFC

(Adds last paragraph)

MOSCOW, May 4 (PRIME) -- The consortium of Swiss commodity trader Glencore and the Qatar Investment Authority (QIA) has notified ChinaТs CEFC of termination of an agreement to sell a 14.16% in Russian oil major Rosneft, Glencore said in a statement on Friday.

УThe consortium has today sent a notice to CEFC to terminate that agreement in accordance with its terms and accordingly that proposed sale will no longer proceed,Ф the statement read.

CEFC said in September 2017 that it would buy the stake to strengthen energy ties between Moscow and Beijing.

Glencore also said that the members have agreed to dissolve the consortium set up in December 2016 for the purposes of acquiring a 19.5% stake in Rosneft.

УAt that point, Glencore will retain an equity stake in Rosneft shares commensurate with its original equity investment announced in January 2017, which amounts to 0.57%, and QIA will hold an equity stake of 18.93%,Ф it added.

A representative of Rosneft told PRIME that the company supports the decision of Glencore and QIA on direct ownership of the companyТs shares, whose price dynamics have proven efficiency of the privatization deal. The Chinese market remains strategic for Rosneft, he added.

End

04.05.2018 19:53
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 75.5358 -1.2198 16 nov
USD 66.6159 -1.3816 16 nov
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1131.13 +1.24 18:50 15 nov
micex 2381.45 +0.12 18:50 15 nov
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 154.14 +1.51 18:49 15 nov
lkoh 4854.00 -0.05 18:49 15 nov
rosn 424.25 -0.68 18:49 15 nov
sber 200.15 +0.48 18:49 15 nov
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 75.2000 -1.2400 14:59 15 nov
USDTD 66.6000 -0.4600 17:44 15 nov