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Russia's Rosneft says to complete Essar deal in nearest future
June 28, 2017 / 1:34 PM / 5 months ago

Russia's Rosneft says to complete Essar deal in nearest future

MOSCOW (Reuters) - Russian largest oil producer Rosneft said on Wednesday that it plans to complete the deal to acquire a 49 percent stake in India’s Essar Oil in the “nearest future”.

The logo of Russia's oil producer Rosneft is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin/Files

The closure of the $12.9 billion deal, signed last year, has been held up by creditor banks to Essar and some regulatory approvals.

Rosneft said all the necessary legal approvals have been received by the purchasers and sellers.

“The parties received no additional inquiries from the Indian Authorities. Excluding the (Vadinar) port from the deal is not being considered by the parties,” it said.

Reporting by Katya Golubkova; writing by Vladimir Soldatkin

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