MOSCOW TIME: 20.04.2024 11:32:14
Russia’s second-biggest lender VTB may provide loans to Qatar’s sovereign fund QIA for purchases of Rosneft shares as part of the transaction with Swiss trader Glencore, Chief Executive Officer Andrey Kostin said.
"We are always ready to provide loans," he said when asked about the possibility to provide loans.
The bank was ready to extend a 5 bln euro loan to China’s CEFC, which planned to acquire a 14.16% stake in Rosneft from a consortium of QIA and Glencore. However, on May 4, it was reported that the consortium terminated the agreement with CEFC and the stake in Rosneft would be transferred to QIA’s subsidiary.
This means QIA’s share in Rosneft will rise to 18.93%, while Glencore will retain a 0.57% stake in the company and receive around 3.7 bln euro.
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