Rosneft has found resources to finance the acquisition of everything that is left of YUKOS, RBC Daily said today. A syndicate of foreign banks has approved a credit worth $24.5bn. Analysts believe that the sum is sufficient for Rosneft not only to purchase YUKOS's oil refining facilities, but also to acquire its foreign assets.
In October, Rosneft entered negotiations with a syndicate of foreign banks including ABN Amro, Barclays, Calyon, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley over a loan of $24.5bn for acquisitions in Russia and Europe. In Russia, Rosneft was interested in YUKOS' assets. Rosneft's managers have repeatedly stated that the company is also interested in Bashneft and Tatneft assets.
Traditionally, Rosneft kept the details of the negotiations secret. However yesterday Bloomberg said the largest loan in Russia's credit history had been agreed upon citing sources in banks syndicating the loan.