Qatar picks up pieces of CEFC Rosneft deal
Multinational Glencore will retain a 0.57% stake in Rosneft after the consortium between the two companies, set up for the purpose of the sale in late 2016, is officially dissolved. The commodity trader offered no reason for the termination of the USD 9.1-billion CEFC deal in its press release, though the Chinese company is undergoing restructuring and its founder came under investigation for alleged economic crimes in February.
“The transaction is subject to a number of conditions in favour of [Qatar Investment Authority] and regulatory approvals,” Glencore added.
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