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Rosneft Announces Successful Finalization of a Project with Saras S.p.A.

18 January 2017

Rosneft JV Projects S.A. (Luxembourg), an indirect subsidiary of Rosneft Oil Company, announces the agreement to sell to institutional investors 114,120,000 ordinary shares in Saras S.p.A., representing 12% of the total share capital in Saras S.p.A., at a price of EUR 1.53 per share through an accelerated bookbuilding.

Following the disposal of the remaining stake Rosneft fully withdraws from the shareholders of Saras S.p.A.

Rosneft net profit from its investment in Saras S.p.A. shares over 2013-2017 exceeded EUR 80 million (including dividends received). Total rate of return equals 9% p.a. in EUR.

The sale is a part of the ongoing portfolio optimization of Rosneft, related, among other things, to Rosneft’s inability to implement its previous agreements to increase its stake in the asset to the level of controlling interest as a result of sanctions’ restrictions. The proceeds from the disposal will be directed to the implementation of strategic projects with other Italian partners of Rosneft.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
January 18, 2017

 

This announcement is not an offer of securities for sale in the United States. The securities to which this announcement relates have not been registered under the Securities Act and may not be offered or sold in the United States, absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.

In the United Kingdom, this announcement is only being distributed to and is only directed at (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") and (ii) any other persons at or to whom it can otherwise lawfully be distributed or directed (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this notification or any of its contents.

This document is not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003 as amended (the "Prospectus Directive") as implemented in each member state of the European Economic Area (the "Member States"). In Member States, this announcement is directed only at persons who are "qualified investors" within the meaning of article 2(1)(e) of the Prospectus Directive.

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.