India: Rosneft completes $13b Essar Oil acquisition

India: Rosneft completes $13b Essar Oil acquisition

An oil refinery of Essar Oil, which runs India's second biggest private sector refinery, is pictured in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo

The nearly $13-billion acquisition of Essar Oil Ltd by a consortium led by Russia’s Rosneft PJSC was completed on Sunday, two people aware of the matter said. The deal’s consummation paves the way for the Essar group to reduce its debt.

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