Trafigura divests stake in Russian energy company Vostok Oil to Nord Axis

Trafigura, Singapore-based commodity trading company, said that it has divested its 10% stake in Russian energy company Vostok Oil to Nord Axis Limited, an independent registered trading company in Hong Kong.

The financial terms of the deal were not disclosed by Trafigura, which took up the sal after a review of options.

According to Trafigura, the associated non-recourse bank debt of Vostok Oil as per the acquired stake will be assumed by Nord Axis Limited.

Trafigura divests stake in Russian energy company Vostok Oil to Nord Axis. Photo courtesy of LEEROY Agency from Pixabay.

The stake was acquired by the commodity trading company from Rosneft in December 2020.