Rosneft will sell 8,99% of Saras, equal to approximately 85,5 million shares. This was announced by the Russian oil giant, specifying that the placement will take place through an accelerated book building operation.
The sale is part of a portfolio management and optimization program and Rosneft (a shareholder in Italy also of Pirelli) intends keep his remaining 12% of Saras in order to continue to be present on the Board of Directors of the Italian group.
On the basis of the agreements with UBS, responsible for the placement, Rosneft will not sell any other Saras shares for a period of 180 days from the completion of the operation.
