Rosneft board meet today on Essar Oil stake buy

The board of Rosneft is meeting on Thursday to clear buying 49 per cent stake in Essar Oil at an enterprise valuation of $7 billion. The Rosneft investment would be one of largest FDI into India's oil and gas sector after investments by British oil giant, BP in Reliance's KG D6 blocks and Vedanta's acquisition of Cairn India Ltd. Essar plans to use the proceeds of the sale to retire its debt while Rosneft will use the Indian refinery to sell its products. Here are top 5 acquisitions in the Indian oil and gas sector