Reuters: Global Markets: Saras shares rise after Rosneft takeover bid

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Saras shares rise after Rosneft takeover bid Apr 15th 2013, 13:07 Tweet Share this Email Print Related News Rosneft to buy into Italian refiner Saras 9:04am EDT UPDATE 2-Italy's Moleskine shares rise in market debut Wed, Apr 3 2013 BP to return $8 billion to shareholders from TNK-BP sale Fri, Mar 22 2013 Rosneft pays out in historic TNK-BP deal completion Thu, Mar 21 2013 Related Topics Hot Stocks » Asian Markets » An employee in uniform stands near a Rosneft petrol station in St.Petersburg October 23, 2012. Credit: Reuters/Alexander Demianchuk MILAN | Mon Apr 15, 2013 9:07am EDT MILAN (Reuters) - Shares in Italian refiner Saras (SRS.MI) rose as much as 11 percent on Monday after the announcement of a takeover bid by Russian oil group Rosneft (ROSN.MM). Rosneft said on Monday the main Moratti family shareholders of Saras had agreed to sell 13.7 percent of the Italian refiner to the Russian oil group for 178.5 million euros ($233.8 million). Rosneft also said it would launch a public bid on 7.29 percent of Saras at 1.37 euros per share, a premium of 41.2 percent on Friday's closure price. At 1240 GMT, Saras shares were up 7 percent at 1.04 euros. (Reporting by Antonella Ciancio; editing by Francesca Landini.) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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