Rosneft to buy $2.4 billion Essar Oil stake

Russian giant Rosneft is offering around $2.4 billion for a 49% stake in Essar Oil, India's second largest refiner, Times of India reports on Wednesday.

Russian giant Rosneft is offering around $2.4 billion for a 49% stake in Essar Oil, Times of India reports on Wednesday.

Rosneft is expected to offer just under Rs 200 per share. "The pricing is likely between Rs 190 and Rs 195 a share," said a source who did not want to be named since talks are still private. This values the stake sale at $2.4-2.5 billion. 
 

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