Essar Oil showcases stellar annual performance at 26th Annual General Meeting

Essar Oil showcases stellar annual performance at 26th Annual General Meeting

Essar Oil Limited today announced to its shareholders that it had recorded its highest ever EBITDA, PAT and GRMs in FY 2015-16 at the 26th Annual General Meeting in Vadinar, Gujarat. In FY2015-16, the company achieved its highest ever EBIDTA of Rs 7,773 crore, which was 35% higher than the previous year. The Profit after […]

In India’s largest FDI deal, Rosneft and International Investment Consortium To Acquire 98% in Ruia’s Essar Oil under a $12.9 bn deal

The Transaction is the single largest tranche of foreign direct investment in India, and re-establishes the image of India as an attractive destination for foreign investments. Earlier in 2007, Essar Group, together with Hutchison Whampoa, brought Vodafone into India through an $11.1-billion transaction. With the current Transaction, this is the second instance that Essar has brought in world leaders in the sector to participate in the India growth story.

In India’s largest FDI deal, Rosneft and International Investment Consortium To Acquire 98% in Ruia’s Essar Oil under a $12.9 bn deal

In the single largest tranche of foreign direct investment in India, a $12.9 billion deal (Rs 86,100 crore) was inked on October 12 for sale of 98% in Essar Oil to Rosneft and investment consortium led by Trafigura. The transaction, that was announced in the presence Prime Minister, Narendra Modi and Vladimir Putin, President of the Russian Federation, at the BRICS Summit in Goa (India), includes Rs 72,800 crore ($10.9 bn) for Essar Oil’s refining and retail assets and Rs 13,300 crore ($2 bn) for Vadinar port and related infrastructure.