Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Glencore    GLEN   JE00B4T3BW64

GLENCORE (GLEN)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Glencore : Qatar Investment Authority to Sell Rosneft Oil Stake

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/11/2017 | 02:26pm CEST

But Glencore and QIA have now made a decision to sell a 14.16% stake in the Russia-controlled firm to CEFC China Energy at a 16% premium to the 30-day volume weighted average, which should ensure that they net a small profit on their original investment.

Glencore PLC and Qatar have agreed to sell the bulk of their almost 20% stake in Russian oil giant PAO Rosneft to a Chinese energy company in a deal worth about $9 billion. A CEFC spokesman said the company would pay $9.1 billion.

The deal comes as the United States imposes a new round of economic sanctions on Russian Federation against its annexation of Crimea and an incursion into east Ukraine in 2014.

After the sale, Glencore confirmed it would hold 0.5% of Rosneft while the Qataris would have a 4.7% stake.

As a result of a series of oil deals, Russian Federation now tops the list of China`s oil suppliers, surpassing even its biggest rival Saudi Arabia in the Chinese market, according to the International Energy Agency.

The December acquisition of a stake in Rosneft by QIA and Glencore was billed by the Kremlin as the privatisation of the Russian oil giant, at the time.

Rosneft is run by Igor Sechin, a close ally or President Vladimir Putin, who awarded special state decorations to the head of Glencore Ivan Glasenberg for executing the transaction. The complex deal involved more than 7 billion in debt from backers that were never fully disclosed. Intesa said its loan would be fully repaid with proceeds from the sale. Final negotiations and regulatory approvals are needed before the exchange goes through, however.

Sechin told reporters CEFC would get access to Rosneft`s oil fields and petrochemical projects in East Siberia to guarantee bigger synergies.

(c) 2017 Saudi Research and Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GLENCORE
09/22 Exclusive - Volkswagen moves to secure cobalt supplies in shift to electric c..
09/21 Hedge funds bet on bright future for metals
09/21 GLENCORE : strikes a multi-year purchase deal with Angola LNG
09/20 GLENCORE : Angola LNG and Glencore sign LNG sales agreement
09/15 Surging sterling sends FTSE to fresh four-month low
09/14 FTSE hits bump on sterling jump after Bank of England rate hike signal
09/14 Oil, retailers help European shares touch five-week high
09/14 CALLINEX MINES : Intersects 18.7 Meters of 5.8% Zn Eq. at the Nash Creek Zinc Pr..
09/13 Sterling's slip from one-year high curbs FTSE losses
09/12 Bunge to buy 70 percent stake in IOI Corp unit for $946 million
More news
News from SeekingAlpha
09/22 Iron ore plunges as China's environmental curbs cause "serious impact"
09/20 Iron ore prices slide amid Chinese demand doubts, peak steel warning
09/18 Glencore's Most Excellent Journey
09/14 South Africa places controversial new mining charter on hold
09/14 Base metals miners lose ground amid signs of slowing China economy
Financials ($)
Sales 2017 199 B
EBIT 2017 7 518 M
Net income 2017 4 918 M
Debt 2017 20 533 M
Yield 2017 2,42%
P/E ratio 2017 14,15
P/E ratio 2018 14,75
EV / Sales 2017 0,44x
EV / Sales 2018 0,42x
Capitalization 67 851 M
Chart GLENCORE
Duration : Period :
Glencore Technical Analysis Chart | GLEN | JE00B4T3BW64 | 4-Traders
Technical analysis trends GLENCORE
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 4,89 $
Spread / Average Target 4,5%
EPS Revisions
Managers
NameTitle
Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Independent Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GLENCORE25.17%67 851
CHINA SHENHUA ENERGY COMPANY LIMITED26.82%59 828
COAL INDIA LTD-14.53%24 317
SHAANXI COAL INDUSTRY CO LTD84.12%13 051
CHINA COAL ENERGY COMPANY LIMITED10.15%10 769
YANZHOU COAL MINING CO LTD22.38%7 721