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 bookrunner of the accelerated bookbuilt offering.