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VTB chief says Rosneft privatization deal paid by foreign companies

January 18, 11:43 UTC+3
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DAVOS, January 18. /TASS/. The deal for the privatization of Rosneft was paid by foreign companies, VTB does not comment on its involvement, Head of the bank Andrey Kostin told reporters.

"We traditionally do not comment on the deal, because it's a client issue. As far as we know, all the money was paid by foreign companies. It is what it is. So I have nothing to add to what was already said by Rosneft representative," he said.

The deal for the privatization of Rosneft was paid by foreign companies, VTB does not comment on its involvement, Kostin said:

"We traditionally do not comment on the deal, because it's a client issue. As far as we know, all the money was paid by foreign companies. It is what it is. So I have nothing to add to what was already said by Rosneft representative." 

Presidential spokesman Dmitry Peskov said earlier that participation of VTB in financing purchase of Rosneft shares at the end of last year cannot be regarded as participation in the privatization.

"It cannot be regarded as participation in the privatization," the Kremlin official said. Peskov said he does not consider it participation in the privatization because at the end VTB was not the purchaser of the shares. "This has absolutely nothing to do with the privatization itself," he added. He noted that this is a commercial issue that in no way relates to the Kremlin's current agenda.

Commenting on participation of VTB in financing the deal, Rosneft told TASS earlier that financing the deal for the purchase of 19.5% of Rosneft shares was organized for avoiding volatility in the currency market.

It was reported earlier that on December 15, 2016, VTB issued a loan of 692 bln rubles ($10.94 bln) to Singaporean QHG Shares Limited for the security of Rosneft shares.

"All the tasks set in the framework of this deal have been fully implemented, and one of the objectives was to avoid volatility in the foreign exchange market," Rosneft" said.

In December 2016, the consortium of Glencore plc, the London-listed commodities trading and mining company, and Qatar Investment Authority (QIA) said the deal of buying out Rosneft’s 19.5% stake had been closed.

Rosneftegaz and a consortium incorporating the Qatar Investment Authority and Glencore signed an agreement for the sale of 19.5% of Rosneft stake for 692 bln rubles ($10.94 bln). A total of 710.8 bln rubles ($11.24 bln), including 18 bln rubles ($284.64 mln) worth of extra dividends of Rosneftgaz were transferred to the Russian budget.

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