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BRIEF-Glencore divests ‍stake in Rosneft held with QIA to CEFC China Energy
September 8, 2017 / 12:05 PM / 14 days ago

BRIEF-Glencore divests ‍stake in Rosneft held with QIA to CEFC China Energy

Sept 8 (Reuters) - Glencore Plc

* ‍STAKE IN ROSNEFT HELD BY GLENCORE-QIA CONSORTIUM​

* ‍CONSORTIUM CONTROLLED BY GLENCORE AND QATAR INVESTMENT AUTHORITY HAS CONCLUDED AN AGREEMENT WITH CEFC CHINA ENERGY COMPANY LIMITED​

* ‍AGREEMENT REGARDING A TRANSACTION IN TERMS OF WHICH CONSORTIUM WOULD DISPOSE OF A 14.16% STAKE IN ROSNEFT OIL COMPANY (ROSNEFT) TO CEFC​

* ‍SALE AT A PREMIUM OF APPROXIMATELY 16% TO 30 DAY VOLUME WEIGHTED AVERAGE PRICE OF ROSNEFT SHARES ON 8 SEPTEMBER 2017​

* ‍TRANSACTION IS CONDITIONAL ON CONSORTIUM ELECTING TO PROCEED FOLLOWING COMPLETION OF FINAL NEGOTIATIONS AND ON ALL REGULATORY APPROVALS​ Source text for Eikon: Further company coverage:

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