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RPT-BRIEF- Glencore-QIA consortium to sell 14.16 pct stake in Rosneft Oil Company
October 16, 2017 / 3:51 PM / in a month

RPT-BRIEF- Glencore-QIA consortium to sell 14.16 pct stake in Rosneft Oil Company

(Repeats to add Rosneft’s RIC)

Oct 16 (Reuters) - GLENCORE PLC:

* ‍STAKE IN ROSNEFT HELD BY GLENCORE-QIA CONSORTIUM​

* REFERS TO ANNOUNCEMENT THAT CONSORTIUM HAD CONCLUDED AGREEMENT WITH CEFC CHINA ENERGY COMPANY LTD (CEFC) FOR DISPOSAL BY CONSORTIUM OF A 14.16% STAKE IN ROSNEFT​

* SAYS ‍CONSORTIUM HAS FINALISED NEGOTIATIONS WITH CEFC AND ELECTED TO PROCEED WITH TRANSACTION​

* ‍CONSIDERATION FOR DISPOSAL OF 14.16 PCT STAKE AMOUNTS TO: (1) 3,905,850,665 EUROS; PLUS (2) AMOUNT OF EUROS ARISING FROM CONVERSION OF $4,576,094,639 AT A FIVE DAY AVERAGE EXCHANGE RATE AT DATE OF PAYMENT​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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