GOA: India and Russia on Saturday signed a deal to pave the way for a group led by Russian oil major Rosneft to acquire India's Essar Oil.
The group will acquire Essar Oil in a deal worth $12 billion to $13 billion, including debt, two sources privy to the deal told Reuters.
Russian lender VTB will give Essar $3.9 billion in
credit for debt reconstruction, VTB Chief Executive Andrei
Kostin said on Saturday.