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Thursday, 8 December 2016

Italian bank Intesa to help fund Rosneft deal for Glencore and Qatar: sources | Reuters

Italian bank Intesa to help fund Rosneft deal for Glencore and Qatar: sources | Reuters:
"Italian bank Intesa Sanpaolo is expected to provide a consortium of Qatar and commodities trader Glencore with sizeable funds to help finance their purchase of a stake in Russian oil company Rosneft, two sources familiar with the transaction said.

Intesa declined to say whether it was helping finance the deal, announced by the Kremlin, which said on Wednesday it had sold a 19.5 percent government stake in Rosneft for 10.5 billion euros ($11.3 billion) to Qatar's sovereign wealth fund and Glencore.

The bank, Italy's biggest retail lender, has deep ties in Russia and advised state-owned Rosneft on the sale of the 19.5 percent stake."

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