Rosneft agreed to sell 8.99% interest in Saras S.p.A.
OREANDA-NEWS. October 22, 2015. Rosneft JV Projects S.A. (Luxembourg), an indirect subsidiary of Rosneft Oil Company, has agreed to sell to institutional investors 85,481,816 ordinary shares in Saras S.p.A., representing approximately 8.99% of the total share capital in Saras S.p.A., at a price of EUR 1.90 per share, through an accelerated bookbuilt offering (the Offering). The share sale was closed at a premium of over 38% to the initial purchase price and is an example of efficient portfolio management and optimization program of Rosneft.
Rosneft will retain a 12% interest in Saras S.p.A. and the corresponding membership in the Board of Directors of Saras S.p.A.
In connection with the Offering, Rosneft JV Projects S.A. has undertaken not to dispose of any additional shares in Saras S.p.A. for a period of 180 days following completion of the Offering, subject to customary exceptions.
UBS acted as a sole bookrunner of the accelerated bookbuilt offering.
Rosneft’s partnership with Italian companies is a strategic one and it covers all business dimensions of the Company: exploration and production, refining, logistics and commerce of oil products, marketing of petrochemicals. The Company highly appreciates potential of the European downstream market and actively cooperates with the Italian partners in the area of oil supplies.
Rosneft Information Division
Tel.: + 7 (499) 517-88-97
October 20, 2015
This announcement is not an offer of securities for sale in the United States. The securities to which this announcement relates have not been registered under the Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.
In the United Kingdom, this announcement is only being distributed to and is only directed at (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") and (ii) any other persons at or to whom it can otherwise lawfully be distributed or directed (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this notification or any of its contents.
This document is not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003 as amended (the "Prospectus Directive") as implemented in each member state of the European Economic Area (the "Member States"). In Member States, this announcement is directed only at persons who are "qualified investors" within the meaning of article 2(1)(e) of the Prospectus Directive.
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.