Intesa loan in doubt as QIA, Glencore sell Rosneft stake to CEFC
Qatar Investment Authority and Glencore have agreed to sell a 14.16% stake in Russian oil company Rosneft, out of their jointly held 19.5% stake, to Chinese energy company CEFC China Energy.
Rosneft’s chief executive Igor Sechin said the sale stemmed from the burden on the QIA-Glencore vehicle of servicing debt, according to a report today by Renaisance Capital.
For most of this year, Banca Intesa has been trying to syndicate a €5.2bn loan it solely underwrote in January to provide
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