Rosneft JV Projects S.A., an indirect subsidiary of Rosneft Oil Company, has agreed to sell 114 120 000 ordinary shares in Saras SpA to institutional investors.
The sale represents 12% of the total share capital in Saras SpA. The shares have been sold at a price of €1.53 per share through an accelerated bookbuilding.
Following the disposal of the remaining stake, Rosneft fully withdraws from the shareholders of Saras SpA.
Rosneft’s net profit from its investment in Saras SpA shares over 2013 - 2017 exceeded €80 million (including dividends received).
The sale is part of Rosneft’s ongoing portfolio optimisation.
Read the article online at: https://www.hydrocarbonengineering.com/refining/19012017/rosneft-sells-shares-in-saras-spa/