Glencore plans to convert shares in subsidiaries of Russia’s Russneft into a 49% stake in the company
Swiss mining giant Glencore (ticker: GLEN) plans to take a 49% stake in Russian oil producer Russneft (ticker: RUSN) by exchanging Glencore’s shares in Russneft’s subsidiaries for shares in the holding company, according to a release from the Swiss company. This news comes in spite of fears of expanded sanctions against Russian companies by the West. Russneft, one of Russia’s largest refining companies, is not to be confused with Rosneft – a g...


Legal Notice