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Russian firms, Trafigura to buy Essar Oil

Posted by October 13, 2016

Russian oil major Rosneft, along with European trader Trafigura and Russian fund UCP, will acquire 98 percent in India's Essar Oil for about $12-$13 billion, two sources with direct knowledge of the deal told Reuters on Thursday.

Rosneft will get 49 percent and the two investors - Trafigura and UCP - will hold the remaining 49 percent in equal parts, the sources said.

 

Reporting by Nidhi Verma

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