On 10 December 2016, Glencore announced that it along with the Qatar Investment Authority (QIA) have established a (50:50) consortium for acquiring a 19.5% stake in Rosneft (the Russian oil & gas giant). The total consideration for this deal was €10.2bn – of which Glencore’s equity commitment was a meagre €300m while QIA’s commitment was €2.5bn. The balance was accessed via ‘non-recourse’ bank financing, principally being underwritten by Intesa
31 Jan 2017
The mysterious Rosneft deal
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The mysterious Rosneft deal
Glencore plc (GLEN:LON) | 473 29.6 1.3% | Mkt Cap: 57,688m
- Published:
31 Jan 2017 -
Author:
Varun Sikka -
Pages:
4
On 10 December 2016, Glencore announced that it along with the Qatar Investment Authority (QIA) have established a (50:50) consortium for acquiring a 19.5% stake in Rosneft (the Russian oil & gas giant). The total consideration for this deal was €10.2bn – of which Glencore’s equity commitment was a meagre €300m while QIA’s commitment was €2.5bn. The balance was accessed via ‘non-recourse’ bank financing, principally being underwritten by Intesa