Deals
Trafigura Deepens Ties to Rosneft With Record Indian Acquisition
- Buying Essar stake is largest ever oil-asset deal by trader
- Special financing structure used to fund refinery deal
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Trafigura Group’s purchase of 24 percent of Essar Oil marks a strategic shift as the trading house builds its position in the fast-growing Indian market and deepens ties with Russia’s Rosneft PJSC.
Part of a $13 billion deal spearheaded by Russia’s state-controlled petroleum giant Rosneft, it’s the largest oil acquisition in the 23-year-old commodity trader’s history. The transaction is expected to increase market share for Trafigura, the third-largest independent oil trader that already handles more than 4 million barrels a day.