SBI head says Essar-Rosneft deal to close in June

SBI head says Essar-Rosneft deal to close in June

A $13 billion takeover by Russian oil major Rosneft of India’s Essar Oil should close this month after delays caused by debts to Indian lenders, the head of State Bank of India (SBI) said on Friday, adding she had “more or less” approved the deal.

“There is a very real possibility this deal will close shortly and we expect to see this happening very soon,” Arundhati Bhattacharya, the chairman of India’s largest bank by assets told Reuters on the sidelines of the St Petersburg International Economic Forum. Read more

Credits:economictimes.indiatimes.com

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