Intesa will provide a loan of 5.2 billion euros for the purchase of 19.5% of shares of Rosneft

Thus, the bank has provided half of the funding for the transaction.
Italian bank Intesa Sanpaolo will provide a loan of up to 5.2 billion euros for the purchase trader Glencore and Qatar's sovereign fund 19.5% of shares of "Rosneft", reports Reuters. Earlier it was reported that the total amount of the transaction amounted to euro 10.2 billion.

The Bank has already spent loan underwriting. Intesa intends to bring to the deal with other banks and to create a syndicate of lenders, said a bank representative.

Funding will be made in accordance with international rules, will be syndicated and secured in terms of collateral and guarantees, the bank said.

On the eve of oil trader Glencore and Qatar Investment Autority (QIA) closed a deal to purchase 19.5% of shares of "Rosneft". "The company said that the final settlement is completed, achieved closing of the transaction, which was announced December 10, 2016," - said Glencore.

December 10 "Rosneftegas" signed an agreement for the sale of 19.5% of shares of "Rosneft" to a consortium of international investors. About the consortium knows that it was created and Glencore QIA on a parity basis. The deal amounted to - EUR 10.2 billion (692.4 billion rubles.), another 18.4 billion rubles. Holding has decided to transfer to the budget in the form of dividends. New shareholders of "Rosneft" had to provide 2.8 billion euros, the rest - Intesa loan and a syndicate of banks, reported Glencore. A person close to "Rosneft", told "Vedomosti" that Intesa is funding most of the credit. Glencore stated that participate in the transaction and the Russian banks. It could fund Gazprombank and Bank, told "Vedomosti" several sources.

December 16 "Rosneftegas" reported on the transfer of money in the budget, it was confirmed by the Ministry of Finance. Even after the budget has received money from the sale of shares, a representative of Intesa said that the bank is still evaluating the possibility to finance the deal. However, a source close to "Rosneft" and the bank itself, claimed that the money is already listed.