ALSO READRussian firms, Trafigura to buy India's Essar Oil for $12-$13 billion - sources India, Russia in deal paving way for Rosneft-led group to acquire Essar Oil Rosneft-led group to buy India refiner Essar for $12-$13 billion, sources say Rosneft-led group to buy India refiner Essar for $12-$13 bln, sources say
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, 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.
(Reporting by Denis Pinchuk; Writing by Jack Stubbs; Editing by Andrew Heavens)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)