In Qatar called impossible the repurchase of shares in the transaction for Rosneft

Moscow. June 7. INTERFAX.RU the Deal for the purchase of 19.5% of “Rosneft” at “Rosneftegaz” by the consortium of the sovereign Fund of Qatar (QIA) and trader Glencore does not provide a right to repurchase the shares, said in a statement QIA.

“According to the contract terms, which were sold the shares of “Rosneft”, or direct or indirect rights of redemption neither “Rosneft” nor “Rosneftegaz” or the Russian government,” said the Qatari Fund.

That deal, under which QIA and Glencore has acquired 19,5% of Rosneft from state holding Rosneftegaz for 10.2 billion euros, provides for the option repurchase at least part of the QIA, said earlier on Wednesday the Wall Street Journal quoting unnamed sources.

The inclusion in the deal of this condition was discussed at the highest level – with participation of Russian President Vladimir Putin and the Emir of Qatar Tamim bin Hamad al-Thani, according to WSJ sources. The term of the agreement to the contrary, the repurchase of shares of up to ten years, the paper wrote.

The source of “Interfax”, close to “Rosneft”, called information about the option to repurchase the rumors are not true. Another interviewee familiar with the parameters from the transaction, added that the consortium has the obligation not to sell the package for a certain period (his term limits, he did not specify).

Under the deal, QIA has invested 2.5 billion euros of its own funds, Glencore – 300 million euros, and the rest was provided by banks.