Rosneft completes acquisition of minority stake in Saras S.p.A.

abarrelfullabarrelfull wrote on 25 Apr 2013 09:44
Tags: europe italy refinery rosneft saras

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"3","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

Rosneft JV Projects S.A., an indirect 100% subsidiary of Rosneft announces, pursuant to Article 41, paragraph 2, letter c) of the Consob Regulation no. 11971/1999, that on April 23, 2013 it completed the acquisition of 130,290,883 shares of Saras S.p.A. (representing approximately 13.70% of the issued share capital of Saras S.p.A.), for a total consideration of Euro 178,498,510, from Angelo Moratti S.a.p.A., Gian Marco Moratti and Massimo Moratti pursuant to the share sale and purchase agreement executed on April 15, 2013 and already communicated to the market.

In particular Rosneft JV Projects S.A.purchased:

(i) from Angelo Moratti S.a.p.A. 118,290,883 shares of Saras S.p.A., for a price per share equal to Euro 1.370 and a total consideration equal to Euro 162,058,510.00. As a result of such transaction, Angelo Moratti S.a.p.a. retains a controlling stake in Saras S.p.A. equal to approximately 50.02%.

(ii) from Gian Marco Moratti 6,000,000 shares of Saras S.p.A., for a price per share equal to Euro 1.370 and a total consideration equal to Euro 8,220,000.00. As a result of such transaction, Gian Marco Moratti does not personally hold any shares in Saras S.p.A.

(iii) from Massimo Moratti 6,000,000 shares of Saras S.p.A., for a price per share equal to Euro 1.370 and a total consideration equal to Euro 8,220,000.00. As a result of such transaction, Gian Marco Moratti does not personally hold any shares in Saras S.p.A.


Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License