Doha - Mubasher:A consortium of international investors, which comprises Qatar Investment Authority, one of the world largest sovereign funds and Glencore has signed an agreement to buy 19.5% stake in Russian - based Rosneft Oil Company owned by Rosneftegaz.
The integrated privatization deal with the sale of a 19.5% stake in Rosneft and the sale of a controlling government stake in Bashneft is the largest privatization deal in Russian history and the largest M&A deal in the global oil and gas industry in 2016, according to an official press release.
The economic effect for the Russian Government from the successful completion of the privatization, including the value of synergies between Rosneft and Bashneft, will exceed $17.5 billion with budget revenues in Q4 2016 equal to $16.3 billion.
