March 16, 2017 / 8:28 AM / 5 months ago

VTB says Rosneft-led deal to acquire Essar to be completed this month

MOSCOW (Reuters) - The acquisition of Indian refiner Essar Oil, led by Russian oil company Rosneft, is set to be completed "in the nearest future, this month", VTB Chief Executive Andrei Kostin told Reuters on Thursday.

Rosneft will acquire a 49 percent stake in Essar and another 49 percent will be shared between commodities trader Trafigura and Russian private investment group United Capital Partners. VTB is involved in the financing of the deal.

Two Russian sources close to the deal told Reuters last month that the deal was set to be completed on March 15.

Reporting by Denis Pinchuk,; writing by Katya Golubkova,; editing by Dasha Afanasieva

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