Glencore and QIA announce Rosneft deal closed

Glencore and QIA announce Rosneft deal closed

The consortium of Glencore plc, the London-listed commodities trading and mining company, and Qatar Investment Authority (QIA) closed the deal of buying out Russian state-run oil company Rosneft’s 19.5% stake, Glencore said in a statement.

"The Company announces that final settlement has been completed and closing achieved for the transaction described in its release of 10 December 2016," says the statement titled ‘New strategic partnership between Glencore and Qatar Investment Authority.’

Earlier, Rosneftegaz and a consortium incorporating the Qatar Investment Authority and Glencore signed an agreement for the sale of 19.5% of Rosneft stake for $11.3 bln, TASS reports.