CAM, TTA, JSA, Freshfields & Ors. lead on Rosneft acquisition of Essar Oil stake for $12.9 billion

Bar & Bench October 20 2016

Russian oil giant Rosneft is buying a 49 per cent stake in Essar Oil. European commodities trader Trafigura and Russian fund UCP consortium will also pick up a 49 per cent stake in Essar, leaving existing promoters - the Ruia family  - with a 2 per cent stake, reported MoneyControl.

The deal is valued at USD 12.9 billion, making it the largest ever FDI . . .

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