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2017-06-24 09:35:00

ROSNEFT - ESSAR DEAL: $12.9 BLN

ROSNEFT - ESSAR DEAL: $12.9 BLN

REUTERS - Creditor banks to India's Essar Oil approved the acquisition of the company by a group including Russia's Rosneft, two sources familiar with the matter said, removing a key hurdle to the $12.9 billion deal that has been in the works for two years.

The news comes a day after Igor Sechin, CEO of the Russian oil and gas giant, said the Essar Oil deal could be considered as closed. Kremlin-controlled Rosneft, which sees the buyout as vital to expanding in Asia's fastest growing energy market, had aimed to close the deal at the end of 2016 but…

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Tags: ROSNEFT, ESSAR, RUSSIA, INDIA
Chronicle:
ROSNEFT - ESSAR DEAL: $12.9 BLN
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MALAYSIA'S GDP UP 4.9%
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