May 7, 2018 / 10:20 AM / in 5 months

Rosneft CEO Sechin says welcomes Qatar as direct shareholder

MOSCOW (Reuters) - Rosneft (ROSN.MM) Chief Executive Igor Sechin said on Monday he welcomed Qatar as a direct shareholder in Rosneft, as the Qatari sovereign investment fund prepared to become the sole owner of a major stake in the Russian energy company.

FILE PHOTO: Rosneft Chief Executive Igor Sechin delivers a speech at the Zvezda shipyard in the far eastern town of Bolshoy Kamen, Russia September 8, 2017. REUTERS/Sergei Karpukhin/File Photo

“The consortium presented by Qatar and Glencore was already a shareholder and now they have decided upon direct ownership (by Qatar)... We welcome this direct ownership,” Sechin said. He declined to say how much Qatar would pay under the deal.

The Qatar Investment Authority (QIA) is taking a stake in Rosneft of nearly 19 percent, after a deal to sell a 14.16 percent stake to China’s CEFC fell through. Swiss trading giant Glencore (GLEN.L) will hold some 0.57 percent.

Reporting by Darya Korsunskaya; Writing by Katya Golubkova; Editing by Polina Ivanova

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