ALSO READRosneft, partners to invest around $12.9 billion in Essar Oil - CEO Russian firms, Trafigura to buy India's Essar Oil for $12-$13 billion - sources Rosneft's partner in Essar deal says may sell stake within 5 years Deal with Rosneft is U.S. sanctions-compliant, says Essar Group CEO Oil India shares up nearly 3%
Under the deal, Rosneft would purchase 49 per cent stake in Essar Oil's refinery port and petrol pumps. Netherlands- based Trafigura Group Pte -- one of the world's biggest commodity trading companies -- and Russian investment fund United Capital Partners split another 49 per cent equity equally.
The remaining 2 per cent is held by minority shareholders after delisting of Essar Oil.
The deal has an enterprise value of close to USD 13 billion, including Essar Oil's debt of USD 4.5 billion and around USD 2 billion debt with the port company and power plant.
Mergers and acquisitions beyond a certain threshold are required to get the approval from CCI, which keeps a tab on anti-competitive practices across sectors.
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