The Swiss trader and the Qatari fund expected to receive $ 400 million for the termination of the transaction to acquire a 14.2% stake in Russia's largest oil company.
The “breakthrough” of Putin’s business into the open world turned out to be an interlude, as a result of which the state-owned VTB Bank acquired shares of the toxic Sechin Rosneft.
The companies purchased 19.5% of the shares of the oil company for loans from Russian and European banks. The problem for them may be the fall in the value of the company Igor Sechin.
The joint company of the Qatar investment fund QIA and the Swiss trader Glencore - QHG Oil, will be disbanded. After that, 18.93% of Rosneft shares will remain on the balance sheet of QIA, 0.57% - at Glencore.
The bank has already offered 5.1 billion euros to the Chinese CEFC, and now does not rule out a loan to the Qatar Investment Authority, which will collect almost 19% of Rosneft's shares.
Qatar investment fund QIA saves a deal to privatize the state stake in Rosneft.
The Glencore and QIA consortium announced the termination of the agreement to sell the stake in Rosneft to the Chinese CEFC.
At the end of the "multitrack" launched by the Kremlin in December 2016 to privatize the stake in Rosneft was the head of the Chinese CEFC corporation E Jianming. His company expectedly delayed the first tranche ($ 1.8 billion) of payment for a 14.16% stake in Rosneft, and the deal actually collapsed.
It's just that the Chinese company has problems with the authorities of the China and Western banks, and therefore it cuts half of its staff.
Mnogodhodovochka with the sale of shares of Rosneft has reached a dead end. The Chinese CEFC still has a week to pay 1.5 billion euros for Rosneft shares, but the Chinese company does not intend to buy these securities.
The attempt to "break through the sanctions blockade" and sell a large stake in Rosneft to respected Chinese investors has failed. CEFC Corporation postponed the deal for an indefinite period.
CEFC postponed for an indefinite period the purchase of a 14.2% stake in Igor Sechin for $ 9.1 billion. As a result, the whole "multiyear" with the sale of 19% of the shares of the state company to foreign investors indecently hovered in the air.
The completion of the transaction for the sale of 14.16% of Rosneft to the Chinese CEFC was postponed from the end of 2017 to the first half of 2018. The total volume
The bank issued a loan to CEFC for 5 billion euros secured by the 14.16% stake in Rosneft it buys. It remains only to wait for the Chinese to return the documents they do not need and the billion-dollar deal will be closed.
Oleg Deripaska found himself in London without any problems.
The budget profit from the sale of 19.5% of Rosneft is exceeded by the tax benefits for the oil company by 700 billion rubles.
In addition to the proceeds from the sale of shares, they have already received 174 million euros of dividends and can receive more.
Negotiations with banks on refinancing a loan are threatened because of the anti-Russian sanctions.
Negotiations began to sell a stake in the Russian oil company.
The Government approved a loan of €5,2 billion by Intesa Sanpaolo for the consortium of Glencore and QIA.
The bank considers the Russian company a very reliable partner.
Intesa, which gave a loan for €5,2 billion to Glencore and Qatar QIA for the purchase of shares in Rosneft, wants to syndicate it, but may encounter difficulties. Foreign banks are not willing to participate until they know all the details of this transaction.
QIA is negotiating with Igor Yusufov to buy 49% of Yargeo.
Swiss trader Glencore and Qatar investment fund QIA set up three joint companies with registration in the UK as part of the transaction for the purchase of 19.5% of Rosneft shares, as it follows from the data of the British corporate registry.
Thus, the bank has provided half of the funding for the transaction.
The purchase of 19.5% of shares of Rosneft by Glencore and Qatar Investment Authority still raises many questions among economists. It is being prepared in strange secrecy, they say. And last week, like a bolt from the blue, it was announced that the stock of the oil company had been already sold to Glencore and the QIA.
The head of Rosneft sold nearly 20% of the state company to Glencore, which is closely associated with the Kremlin-connected billionaire Gennady Timchenko, and to the Qatar Investment Authority, which collaborates with Igor Sechin's advisor, Roman Trotsenko.