Sechin called positive transfer of shares of “Rosneft” in the direct possession of QIA and Glencore

Sechin called positive transfer of shares of “Rosneft” in the direct possession of QIA and Glencore


MOSCOW, may 7. /TASS/. The head of “Rosneft” Igor Sechin considers it a positive step transfer of 19.5% stake in Rosneft in the direct possession of the Qatari sovereign wealth Fund QIA and the Swiss trader Glencore was 18.93% and 0,57% respectively. He said this to journalists.

“The consortium submitted QIA and Glencore and so owned shares, and now at this stage (shareholders – approx. TASS) has taken the decision to move to direct ownership. As a result of this transaction, the consortium will be liquidated, and for us it is positive. We welcome direct possession” – he said.

On may 4, it became known that the consortium has terminated the agreement with the CEFC and now this package will receive a subsidiary of the QIA. Thus, the QIA, the Fund’s share in Rosneft would increase to 18.93%. In turn, Glencore will retain 0,57% of the shares of the company and will receive about €3.7 billion. the Agreement shall enter into force on 7 may.

The main shareholder of Rosneft is state-controlled Rosneftegaz (50% plus one share), another 19.75% of the shares owned by BP.

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