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(Yicai Global) Jan. 19 -- Rosneft's sale of 14.16 percent of shares to Cefc is likely to close by next week, Russian media reported today. The two companies plan to sign the final agreement currently being drafted on a ceremonial occasion, said sources close to the talks.
Cefc Anhui International Holding Co. [SHE:002018] reached an agreement with the consortium comprising Switzerland's Glencore International AG and the Qatar Investment Authority to acquire 14.16 percent of the shares of NK Rosneft' PAO [MOS:ROSN] the consortium holds, the former announced in September. The contract amount is estimated at about USD9 billion. Cefc will become Rosneft's third-largest shareholder following the acquisition.
The other two main shareholders are Gazprom PAO [MOS:GAZP] and BP Russian Investments Ltd.
Rosneft, which planned to complete the share sale to CEFC by the end of last year, is unaware of the reasons for the delay, said Igor Sechin, Rosneft's chief executive.