Russia's Rosneft, partners to invest around $12.9 billion in India's Essar Oil: CEO
Reuters
Published Oct 15, 2016 05:46AM ET
Russia's Rosneft, partners to invest around $12.9 billion in India's Essar Oil: CEO
GOA, India (Reuters) - A group led by Russian oil major Rosneft (MM:ROSN) will invest around $12.9 billion in India's Essar Oil
Sechin said a refinery and port owned by the Indian firm were worth around $10 billion and $2.9 billion respectively.
India and Russia signed a deal on Saturday to pave the way for a group led by Rosneft to acquire Essar.
Officials from Russian lender VTB (MM:VTBR), which is giving Essar $3.9 billion in credit for debt reconstruction, said Rosneft would pay around $3.5 billion for its stake in Essar, the same amount as European trader Trafigura and Russian fund UCP.
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Written By: Reuters
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