Glencore, Qatar Investment Authority to Sell Rosneft Oil Stake
08 September 2017 - 10:59PM
Dow Jones News
By Rory Gallivan
LONDON--Glencore PLC (GLEN.LN) on Friday said its consortium
with the Qatar Investment Authority has agreed to sell a 14.2%
stake in Russia's Rosneft Oil Co. (ROSN.MZ) to Chinese conglomerate
CEFC China Energy Company Ltd.
Following the sale, Glencore will own 0.5% of Rosneft Oil and
QIA will own 4.7%, Glencore said.
Glencore said the shares in Rosneft Oil will be sold at around
16% above their average share price over the past 30 days.
Shares at 1200 GMT, down 2.2 pence, or 0.6%, at 366.3 pence
valuing the company at 53.11 billion pounds ($69.43 billion).
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
September 08, 2017 08:44 ET (12:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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