India, Russia in deal paving way for Rosneft-led group to acquire Essar Oil

Reuters

Published Oct 15, 2016 04:51AM ET

India, Russia in deal paving way for Rosneft-led group to acquire Essar Oil

GOA, India (Reuters) - India and Russia on Saturday signed a deal to pave the way for a group led by Russian oil major Rosneft (MM:ROSN) to acquire India's Essar Oil.

The group will acquire Essar Oil in a deal worth $12 billion to $13 billion, including debt, two sources privy to the deal told Reuters.