“Trust” sold part of the package of preferred shares of “RussNeft” – Kommersant

Trust Bank sold part of its stake in RussNeft preferred shares. A bank representative reported this “Interfax”without disclosing details of the deal.

In March, RussNeft issued a guarantee to a Russian bank for a third party to buy out a package of preferred shares in the amount of $172 million. Buyer’s name in reporting the company was not specified. However, the discussion was about the repurchase of 64,791,173 preferred shares, the same package is owned by Trust.

Over the past 2023, Russneft increased profit almost quadrupled – it reached 31.79 billion rubles. The company’s revenue decreased by 13.1% and amounted to 238.83 billion rubles. Cost of sales decreased by 21.7%, to RUB 178.45 billion. RussNeft is in sixth place in the ranking of the largest oil companies in terms of oil production volumes in the country.

Earlier, Interfax reported that 23.46% of the authorized capital of the Russian company is owned by the Swiss Glencore through the Rambero Holding structure. Since February, foreign companies have been allowed to make transactions with Russneft shares, which may help the Swiss company exit its share capital.

Read more about this in the material “Glencore parted ways with Russneft”.

Evgeny Belousov