Caspian Energy Journal Caspian European Club
Tuesday, 12 September 2017 14:00

CEFC China Energy to buy Rosneft interest

CEFC China Energy Co. Ltd., Shanghai, has agreed to buy 14.16% of the share capital of Rosneft from a combine of Glencore, Baar, Switzerland, and Qatar Investment Authority (QIA), Caspian Energy News ( reports with reference to OGJ.

CEFC agreed purchase price represents a 16.1% premium to the Russian company’s recent stock-market valuation. After completion of the deal, Glencore will retain about 0.5% of Rosneft shares, and QIA will retain 4.7%.

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Person in charge of the newsline: Fidan Isayeva

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