Photographer: Sam Panthaky /AFP via Getty Images

Rosneft, Trafigura to Spend $13 Billion to Buy Indian Refiner

Updated on
  • Equity value about $5.8 billion; approvals seen by year-end
  • Deal will help Essar Group cut debt by more than 50%: Ruia

India’s billionaire Ruia brothers agreed to sell a 98 percent stake in their refinery unit to Rosneft PJSC, Russia’s biggest listed oil producer, and a consortium of Trafigura and United Capital Partners for about $13 billion.

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