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Sberbank CEO considers Rosneft privatization deal successful due to discount

December 08, 2016, 15:15 UTC+3

The transaction on privatization of 19.5% shares in Rosneft will not facilitate the access to foreign markets for other companies due to anti-Russia sanctions, Sberbank CEO Herman Gref said

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ANOSINO /Moscow Region/, December 8. /TASS/. Sberbank CEO Herman Gref considers Rosneft privatization deal successful due to discount. The transaction on privatization of 19.5% shares in Rosneft will not facilitate the access to foreign markets for other companies due to anti-Russia sanctions, Chief Executive Officer of Sberbank Herman Gref also said Thursday.

"I’m afraid it won’t get easier to get access to (foreign) markets as the issue is related to sanctions, to privatization. This is the biggest and most successful deal, with a small discount, for today’s situation a 5% discount is a very good result and very proper investors I think," Gref said.

On December 7, Chief Executive Officer of Rosneft Igor Sechin reported to the Russian President that the privatization deal for the 19.5% stake in the company had been completed. A consortium of Glencore and Qatar’s sovereign fund (with equal shares) became the strategic investor and purchased shares for 10.5 bln euro.

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