Bolshoi Theater announces Nureyev ballet premiere in early DecemberSociety & Culture September 22, 12:00
Austrian opposition calls for accepting Crimea’s reunification with RussiaWorld September 22, 11:51
Italian bikers collect humanitarian aid for children of DonbassSociety & Culture September 22, 11:21
At least 1,000 buildings in Russia targeted by hoax bomb threats over weekSociety & Culture September 22, 10:38
Lavrov and UN chief clarify Russia’s initiative on security mission to DonbassRussian Politics & Diplomacy September 22, 10:05
Russia's top diplomat urges UN to assist in building fair and democratic worldRussian Politics & Diplomacy September 22, 8:53
Diplomat notes shift in attitude towards Russia's proposals at UN General AssemblyRussian Politics & Diplomacy September 22, 8:05
Kim Jong Un compares Trump’s speech to declaration of war, vows tough responseWorld September 22, 7:20
Washington accuses Russia and Syria of civilian casualties in airstrikes on Idlib, HamaWorld September 22, 7:17
LONDON, December 8. /TASS/. Glencore expects the deal on purchasing a stake in Rosneft to close in mid-December, the trader company said in a statement released on Wednesday.
"Once the transaction is entered into, it will be conditional on the subsequent finalisation of all relevant financing, guarantee and other agreements and would be expected to close in mid-December," Glencore said in a statement.
"Glencore confirms that it is in final-stage negotiations regarding a transaction involving the acquisition, as part of a consortium with the Qatar Investment Authority (the Consortium), of a 19.5% interest in the issued share capital of Rosneft for €10.2 billion (the Shares)," the company said.
"Under the proposed arrangements, Glencore would commit €300 million in equity (the Glencore Equity) with the balance of the consideration for the acquisition of the Shares to be provided by QIA and by non-recourse bank financing," the statement added.
"New 5 year offtake agreement with Rosneft representing a sizeable additional 220,000 bbls/day for the Glencore Marketing business," the statement said.
US and EU financial and technological sanctions imposed on Rosneft do not formally ban US and European companies from purchasing a stake in Rosneft. However, many players from the United States and European Union were wary about investing in the shares of the Russian oil giant, assessing their risks as too big.
On Wednesday, Rosneft’s head Igor Sechin said at the meeting with Russian President Vladimir Putin that the deal on selling a 19.5% stake in Rosneft for 10.5 billion euro has been completed. The consortium of Glencore trader company and Qatar’s sovereign find became a strategic investor.