Environment & Safety Gas Processing/LNG Maintenance & Reliability Petrochemicals Process Control Process Optimization Project Management Refining

India's Essar to pay $1.18/share to minority shareholders

NEW DELHI (Reuters) — India's Essar Group will pay $1.18 apiece to the minority shareholders who tendered Essar Oil shares under a delisting offer ahead of the company's sale to a consortium led by Russian oil major Rosneft, the company said.

India's Essar Group on Monday closed the $12.9 B deal to sell 98.26% stake in Essar Oil to a consortium of Rosneft, trader Trafigura and Russian fund UCP.

The group will pay an additional 8.80 B rupees to minority shareholders, as under the deal shares are valued at 338.28 rupees apiece, it said in a statement.

Reporting by Nidhi Verma; Editing by Biju Dwarakanath

Related News

From the Archive

Comments

Comments

{{ error }}
{{ comment.name }} • {{ comment.dateCreated | date:'short' }}
{{ comment.text }}