October 19, 2017 / 11:27 AM / a year ago

CEFC says VTB, China Development Bank to finance Rosneft stake purchase

VERONA, Oct 19 (Reuters) - Russia’s second-largest lender VTB Bank will provide a loan to finance CEFC China Energy’s acquisition of a stake in Russian oil major Rosneft from Glencore and the Qatar Investment Authority, the CEFC executive director said on Thursday.

Li Yong also said that China Development Bank would join the deal on its second stage.

Reporting by Oksana Kobzeva, writing by Denis Pinchuk, editing by Dmitry Solovyov

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