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.
