Stake in Rosneft held by Glencore-QIA Consortium: Completion of Sale

posted: 07/09/2018

Stake in Rosneft held by Glencore-QIA Consortium: Completion of Sale

Baar, Switzerland, 7 September, 2018

Glencore refers to the announcement on 4 May 2018 concerning the Consortium’s agreement to sell a 14.16% stake in Rosneft to a wholly owned subsidiary of QIA.

This transaction has now completed.  

As a result of the transaction, the Consortium arrangements have been terminated and Glencore holds a direct equity stake in Rosneft of 0.57% and QIA holds a direct equity stake in Rosneft of 18.93%.   The margin guarantees provided by Glencore have been terminated. 

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For further information please contact:

Martin Fewings    
t: +41 41 709 2880    
m: +41 79 737 5642

Ash Lazenby    
t: +41 41 709 2714    
m: +41 79 543 3804

Charles Watenphul    
t: +41 41 709 24 62    
m: +41 79 904 33 20

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 146,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore Group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies.  Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

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