INSIDE: Unraveling the Rosneft Deal with Glencore and QIA

Commodities firm Glencore plc and the Qatar Investment Authority (QIA) together ended up acquiring a 19.5% stake in Rosneft PJSC through a varied transaction of debt and equity. A large portion of the deal came through debt financing. For example, under the deal terms, Glencore is committing €300 million in equity, while the QIA is committing €2.5 billion in equity – bringing the total to €2.8 billion in equity financing.

Rosneft Ownership

Owner Ownership
Russian Government 50%
BP Plc 19.75%
QHG Shares Pte 19.50%
(Various) – Floats on Russian Stock Exchange 10.75%

 

Deal Structure of the 19.5% Acquisition of Rosneft Shares

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