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Rosneft, Sberbank and Pietro Barbaro Close the Acquisition of Prime Shipping

Source: www.gulfoilandgas.com 9/1/2015, Location: Asia

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets in the Russian Federation (100% share of Prime Shipping group of companies).

The deal was financed by Sberbank.

The acquisition of a logistics asset will allow Rosneft to strengthen its positions in the river transportation market and enhance the efficiency of operations, including that in the area of oil and oil products trading, and secure tanker fleet transportation.

In particular, modern fleet of Prime Shipping will enable optimization of Rosneft’s transport charges; expand the geographical reach of the Company’s oil and oil products supplies. At the same time implementation of the terms of agreement will open new opportunities for the Company in attracting new clients and marketing of high-added-value products.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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