VTB Says Essar Acquisition Nearly Complete
"We hope to finish it this week, it will take 19 days to settle all the payments," he told reporters, adding that the deal required approval from 18 Indian banks.
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.