Russia's Rosneft Sold Business In Venezuela To Improve Asset Structure - Finance Minister
Mohammad Ali (@ChaudhryMAli88) Published May 06, 2020 | 09:00 AM
MOSCOW (UrduPoint News / Sputnik - 06th May, 2020) Russian energy company Rosneft sold its entire business in Venezuela to improve its asset structure, Finance Minister Anton Siluanov said.
"This decision by Rosneft was made to improve the structure of assets," Siluanov said in an interview with the Vedomosti business daily when asked about the sale by Rosneft of its Venezuelan assets to an unnamed state-owned company.
Rosneft on March 28 announced the termination of activity in Venezuela. The company sold all assets in that country to a company 100 percent owned by the Russian government in exchange for 9.6 percent of its own shares. The package on that day, based on data from the Moscow Stock Exchange, cost about 310.8 billion rubles ($4.2 billion).
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