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Singapore's Temasek considers stake in Rosneft -FT

Written by: Staff
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SINGAPORE, July 6 (Reuters) Singapore state investor Temasek Holdings [TEM.UL] is considering taking a stake in the initial public offering by Russian oil company Rosneft , the Financial Times reported on Thursday.

Temasek was approached by Rosneft as part of the oil company's plans to enlist support of global investors for the offering, the paper said, citing two unidentified sources with knowledge of the sale process.

Debt-laden Rosneft aims to raise up to billion from an initial public offering in London and Moscow on July 14.

Rosneft has approached several parties in Asia and Europe to support the IPO, which could value it at billion to billion.

''Temasek is assessing whether Rosneft would be a suitable investment,'' the paper reported, citing a source close to the situation.

No one at Temasek was immediately available for comment on Thursday.

Observers believe that any stakes to be taken by Temasek will be less than billion, compared with higher amounts mooted by other potential investors, the paper said.

Other firms interested in a stake in Rosneft include China National Petroleum Corp., which is in talks to pay up to billion but wants better Chinese access to Russian oil in return.

Malaysian state-owned oil company Petronas [PETR.UL] has also been offered a stake.

Reuters DH VP0715

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