Business Companies 22 Aug 2017 Essar Group says wil ...

Essar Group says will pay Rs 75.48 a share to minority shareholders

REUTERS
Published Aug 22, 2017, 4:01 pm IST
Updated Aug 22, 2017, 4:01 pm IST
Essar Group on Monday closed $12.9 billion deal to sell 98.26 percent stake in Essar Oil to Rosneft-led consortium.
Essar group will pay an additional 8.80 billion rupees to minority shareholders. (Photo: PTI)
 Essar group will pay an additional 8.80 billion rupees to minority shareholders. (Photo: PTI)

New Delhi: India's Essar Group will pay Rs 75.48 ($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 billion deal to sell 98.26 percent stake in Essar Oil to a consortium of Rosneft, trader Trafigura and Russian fund UCP.

 

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

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Location: India, Delhi, New Delhi




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