Intesa Sanpaolo sees no problems with the sale of shares of «Rosneft» Chinese CEFC

© RIA Novosti / Maxim to Aminopherase in fotomonster company Rosneft. Archival photoIntesa Sanpaolo sees no problems with the sale of shares of «Rosneft» Chinese CEFC© RIA Novosti / Maxim to Aminopherase the image Bank

Bank Intesa Sanpaolo sees no problems with the transaction for the sale of 14,16% of shares of «Rosneft» Chinese CEFC, said in an interview with RIA Novosti Chairman of the Board of Directors of the Bank «Intesa» (part of group) Antonio Fallico.

«With regard to the transactions of the consortium of Swiss trader Glencore and the Qatar Fund QIA selling 14,16% of shares of «Rosneft» Chinese concern CEFC, everything is normal, I don’t see a problem. The parties agreed on everything. The Chinese company has enough money to buy. We are confident that in turn, the consortium will easily repay its debt to Intesa Sanpaolo,» said Fallico.

Glencore and QIA sells Chinese CEFC 14,16% of shares of «Rosneft» for 3,906 billion euros plus equivalent in euros 4,576 billion dollars. The entire amount of the consortium will be directed on repayment of the loan, which was provided mainly by the Bank Intesa Sanpaolo, as well as a number of Russian banks for the purchase of 19.5% of «Rosneft» in the course of privatization in December 2016. The closing of the transaction is expected in the first half of 2018.

In addition, Fallico said that the Bank Intesa Sanpaolo is ready to participate in projects of «Rosneft», but I have to consider the limitations. «We can’t Finance projects that are under sanctions. In General, of course, we retain interest in the company and willing to participate in any appropriate time», — he explained.

Read the full text of an interview with Antonio Fallico >>

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