Vladimir Putin has called the sale of the fifth stake in Rosneft overseas deal of the year. That almost 20 percent of the securities buys a foreign consortium, it became known on Wednesday at a meeting of the President with the head of the company Igor Sechin. The news is already reflected in the exchange rate of the ruble — the national currency has considerably risen in price. Russia’s budget from this deal will get 10 and a half billion euros.
deal of the year in the global energy market closed. A consortium of foreign investors bought a 19.5% stake in Rosneft. The head of the company Igor Sechin recently reported about it to President Vladimir Putin.
“In this sense time is very successful, and the total volume of transactions significant to 10.5 billion euros with the company “Bashneft”, which you have recently acquired, is 17.5 billion dollars. Even in the first part of it is the largest privatization deal, the largest sales and acquisitions in the oil and gas sector in the world for the expiring 2016,” — said Putin.
the Intrigue about who would get a fifth of Russia’s largest oil company, remained to the last. In the press even discussed the version of the buy back (buy-back system). Then “Rosneft” has bought his share. But most experts came to the conclusion that this variant of the transaction — rather, the plan “B”.
As previously explained the first Deputy Prime Minister Igor Shuvalov, such a scenario would be a temporary measure to provide receipts in the budget this year, after which the company would be able to resell securities.
Moreover, the government initially relied on foreign buyers of state-owned Rosneft. More about this at the invest-forum in Sochi said Shuvlov. Then he said the purchase of “Bashneft” is interested in Russian companies, but “Rosneft” — foreign. And so it happened. Negotiations with dozens of foreign corporations deliver the results.
the Consortium, which became a shareholder of “Rosneft”, created by the Qatari sovereign wealth Fund and trading company Glencore, which is our long-term partner. The members of the consortium have equal shares – 50%.
Igor Sechin also noted that the deal with the consortium is a strategic, not just a portfolio investment. Glencore will be signed long-term supply contract. Plus with the consortium will create a joint venture, which are engaged in the extraction of raw materials in Russia and international projects.
Glencore is a Swiss trading company. One of the world’s largest suppliers of commodities. From trading Glencore receives more than 90 % of revenues.
Business areas: metals and minerals, energy and agricultural products. Among the well-known assets — 35% of the Swiss mining company Xstrata. Package according to various estimates is worth $ 23 billion. It also owns an 8% stake in UC Rusal.
And a controlling stake in Kazakh mining company Kazzinc. In 2011, Glencore issued shares on the stock exchanges of Hong Kong and London. In the year placement of 10 billion dollars was the largest in the world. Another member of the consortium, the Sovereign Fund of Qatar.
Sovereign wealth Fund of Qatar, owns assets in the world at $ 256 billion. It is created for the revenue management of the oil and gas industry. Its assets are estimated at 256 billion. In property — property in France for 4 billion. Owns stakes in Volkswagen, the banks Barclays and Credit Suisse, the film Studio Miramax Films, oil and gas companies Royal Dutch Shell and now the “Rosneft”.
There is one caveat. On the background of the transaction to Russia will go a large amount of currency to 10.5 billion euros. The President stressed that this should not be a reason for exchange rate fluctuations.
“In the financial market today goes a significant amount of foreign currency, and money must be received in the budget in ruble equivalent, so we need to devise a scheme that would not adversely affect the market, would not cause any jumps in the currency market. We know that the company “Rosneftegaz”, which eventually needs to transfer the money in the budget, there are significant resources in rubles. First, you need to use these funds, and, secondly, to develop with the Ministry of Finance and the Central Bank is gradually moving in the direction of conversion, I repeat, so that there were no fluctuations in the financial market. And I ask you all these questions to coordinate with the government of the Russian Federation, with the leadership of the government, with the Ministry of Finance and the Central Bank”, — said the President of Russia Vladimir Putin.
However, speculators in the markets are not asleep. On news of the sale of state-owned “Rosneft” — on the eve of the ruble strengthened. By the close of trading on the Moscow exchange, the dollar fell by 64 kopecks, and the Euro at 37.
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