Deal between Glencore and Russneft has a good chance of approval by Government Committee
Edited by Rhod Mackenzie / 2015-04-15 02:03:27
The deal on the purchase of 49% in Russneft by Glencore has high chances for approval by the Government Committee, head of FAS, I. Artemiev, said.
“We think the law 57 (On foreign investment) should be applied. We are waiting for an application, we have notified Glencore about it. I am not aware if the application has been submitted”, he said.
“I haven’t seen the documents by Glencore, there are no conclusions of the necessary agencies, let’s wait for them. I am optimistic. I think the deal can be approved”, he said.
Currently Glencore has large minority stakes in the affiliates of Russneft. Previously Glencore confirmed the reaching an agreement on receiving 49% in the united company of Russneft and Neftisa.
