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Essar Energy to acquire stake in Essar Oil

21 May 2013 Evaluate

Essar Energy Holdings, wholly owned subsidiary of Essar Energy Plc is planning to acquire 32.95 million shares, representing a 2.41% stake (including Global Depository Securities (GDS)), in Essar Oil. The company will buy the same from UK’s Imperial Consultants and Securities. The option was exercised at a price of Rs 81.11 per share and the total consideration to be paid for the shares is $48,650,039.

Essar Oil is a fully integrated oil and gas company of international scale with strong presence across the hydrocarbon value chain from exploration and production to refining and oil retail.

Peers
Company Name CMP
Reliance Industries 1343.45
Indian Oil Corp. 144.15
BPCL 308.00
HPCL 370.15
MRPL 174.95
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