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14:59, 23 Декабря 13
Rosneft Acquires Morgan Stanley International Oil Merchanting Business

Rosneft Acquires Morgan Stanley International Oil Merchanting Business A Russian 100% subsidiary of Rosneft Oil Company and Morgan Stanley signed a binding agreement to purchase the Global Oil Merchanting unit of Morgan Stanley Commodities division. Financial terms of the transaction were not disclosed.

The sale includes access to an international network of oil storages, crude oil and products inventories and related off-take and customer contracts, freight shipping agreements and equity investments into infrastructure, international marketing and research businesses. Approximately 100 front-office executives dedicated to oil and products merchanting in the U.S., U.K. and Singapore, or one-third of Morgan Stanley’s total commodities merchanting personnel, and approximately 180 mid- and back-office executives will become part of Rosneft group as part of the transaction. The transfer of all supporting systems and processes is an integral part of the agreement including a first in class approach towards managing market risk, trading controls and adhering to regulatory compliance.

The transaction does not include Morgan Stanley’s current client business related to oil and products merchanting, or its ownership stake in TransMontaigne, or any of its commodities operations outside of the oil and products sector.

Commenting on the transaction, Igor Sechin, Rosneft President and Chairman of the Management Board, said, ‘The agreements reached today represent a breakthrough in strengthening Rosneft’s Commerce and Logistics Unit, which will spearhead the Company’s growth in the international oil and products markets creating substantial incremental synergies based on Rosneft’s unique position as the leading oil and gas company and Morgan Stanley’s Global Merchanting Unit’s geographical reach and depth of “supplier – customer” commercial relationships. The transaction will deliver increased value for Rosneft’s equity barrels by going deeper into the merchanting value chain, while equally enhancing the visibility of global oil and products markets and opening up new revenue streams by accessing third party barrels.’

The transaction was approved by the Board of Directors of Rosneft Oil Company on 20 December 2013. The transaction is subject to, among other conditions, regulatory approvals in the U.S., the E.U. and certain other jurisdictions. It is targeted to close in the second half of 2014.

Факты из архива:
Энергия металла
Аренда вилочного погрузчика


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