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Putin awards orders to management of QIA, Glencore and Intesa

April 10, 2017, 15:45 UTC+3

The companies took part in the deal on privatization of the stake in Russian oil and gas giant Rosneft

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© Mikhail Metzel/TASS

MOSCOW, April 10. /TASS/. Russian President Vladimir Putin signed a decree on conferral of state orders, the Order of Friendship and the Order of Honor in particular, to senior executives of the Qatar Investment Authority (QIA), Glencore and Intesa. The decree of the head of state was published on the official web portal of legal information.

Above-mentioned companies took part in the deal on privatization of the stake in Russian oil and gas major Rosneft.

The Order of Friendship was awarded to Chief Executive of the Qatar Investment Authority Abdullah bin Mohammed Al Thani, Chief Executive Officer of Glencore International Ivan Glasenberg, Chief Executive Officer of Intesa Sanpaolo banking group Carlo Messina, President of Banca IMI Gaetano Micciche and President of Cifal Gilles Remy. Chairman of the Supervisory Board at Bank Intesa AO Antonio Fallico received the Order of Honor. The presidential decree noted that awards are given "for great contribution into strengthening of cooperation with Russia."

In early January 2017, oil trader Glencore and the Qatar Investment Authority closed the deal to buy 19.5% of Rosneft shares. Earlier, the consortium signed an agreement to buy 19.5% of Rosneft shares for 692 bln rubles ($12.1 bln). The Russian budget has received 710.8 bln rubles ($12.4 bln) from privatization, including 18 bln rubles ($314.6 mln) from additional dividends of Rosneftegaz, which were secured by a modified dividend policy approved by Rosneft's Board of Directors in preparation for the company’s privatization.

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