Died Gian Marco Moratti, oil businessman

81 years old, he was head of the Saras family oil company active in Russia with Rosneft  
Died Gian Marco Moratti, oil businessman
26 February 12:06 2018 Print This Article

Gian Marco Moratti, head of the Moratti oil company, Saras, died during the night at the age of 81. Gian Marco was the brother of former Inter Milan president Massimo Moratti and the husband of the former mayor of Milan, Letizia Moratti. The activity of Saras for many years was also a protagonist in the Russian Federation. Last year Rosneft had however placed 12% of the capital of the historic Moratti company in its possession. “Exit the fault of sanctions,” Rosneft had announced     The Saras share (follow live) is weak following the news that Rosneft has launched an accelerated placement on 12% of the share capital of the Moratti family, equal to the entire stake held. The investors were proposed with a price guidance of 1.5 euros per share, with a 9.1% discount compared to the closing of the stock on the stock exchange. The transaction, coordinated by UBS and Credit Suisse, was closed on the morning of 18 January 2017 with the package priced at 1.53 euro per share. In 2015, Saras and Rosneft had abandoned the plan to create a joint venture in trading, in the wake of sanctions imposed on Russia by the US and Europe in response to Moscow’s intervention in Ukraine. In October 2015, the Russians had already sold 8.99% (to 1.9 euros per share), with a similar operation. Saras opened the capital in Rosneft by surprise in 2013, with an agreement that saw on one hand the sale of a 13.7% held by the Moratti family and then the launch of a partial voluntary bid on the stock exchange (then completed in June 2013) to record another 7.3%, thus increasing to a total of 21%. In April 2013, the council of Saras was also joined by Igor Ivanovich Sechin, the oil lord and president of Rosneft.

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