MOSCOW (AP) — Russia’s Rosneft oil company said Saturday that commodities company Glencore and Qatar’s sovereign wealth fund will invest $3 billion of their own funds to acquire a 19.5 percent stake in Rosneft.
Rosneft said the 10.5-billion euro ($11.1-billion) deal signed Saturday also envisages that Italian bank Intesa Sanpaolo will provide loans to finance the acquisition. It added that other unspecified banks will also provide financing and credit support.
Earlier this week, Russian President Vladimir Putin personally broke news on the deal, the largest acquisition in the global energy market this year.
The Kremlin described the privatization of Rosneft as part of …read more
Source: KXAN
