MOSCOW (Sputnik) — The news comes after the Glencore company announced earlier in the day that it and the Qatar Investment Authority (QIA) had sold a 14.16-percent stake in Rosneft to China’s CEFC. Later in the day, Sechin confirmed the move.
"It is an important event for us, which finalizes the ownership structure of the company at large. We are glad that it has become a Chinese company. We hope that this partner would allow us to have synergy from cooperation," Sechin told the Rossiya 24 broadcaster in an interview.
The Rosneft official added that CEFC had obtained the shares bought by the Consortium of Glencore and the QIA with the use of money borrowed from European banks.
In December 2016, the Glencore-QIA Consortium purchased 19.5 percent of Rosneft's shares. The sum of the deal amounted to 692 billion rubles ($12.13 billion at the current exchange rates). Part of the shares was purchased with the use of money borrowed from European banks, such as Intesa from Italy.
