EXPANDING UP NORTH

Qatar Today - - AFFAIRS LOCAL -

Rus­sian Pres­i­dent Vladimir Putin, ac­com­pa­nied by Igor Sechin, the CEO of oil gi­ant Ros­neft, meets with par­tic­i­pants of the Ros­neft pri­vati­sa­tion deal: Bank In­tesa CEO Carlo Messina, Glen­core CEO Ivan Glasen­berg and Sheikh Ab­dulla bin Mo­hammed bin Saud Al Thani, Chief Ex­ec­u­tive Of­fi­cer of the Qatar In­vest­ment Au­thor­ity, at the Krem­lin in Moscow. On Jan­uary 3, Swiss oil trad­ing firm Glen­core and QIA closed the deal on the pur­chase of 19.5% stake in Ros­neft which was re­port­edly sold for €10.2 bil­lion to a Sin­ga­pore in­vest­ment ve­hi­cle that Ros­neft said was a 50/50 joint ven­ture be­tween Qatar and Glen­core. The deal was also partly fi­nanced with Ital­ian and Rus­sian banks.

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