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August 21, 2017
Essar Group on Monday announced closure of $12.9 billion deal to sell its refining arm Essar Oil to a consortium led by Russian oil major Rosneft, boosting ties between the world's top oil producer and the fastest growing fuel consumer.

Anand Adhikari
Delhi, July 26, 2017
A closer look at whats in store for the 12 largest corporate defaulters.

New Delhi, May 11, 2017
Russia's largest oil producer Rosneft expects to complete the acquisition of Indian refiner Essar Oil by the end of June, Rosneft's chief financial officer Pavel Fedorov said on Wednesday.

October 17, 2016
The $12.9 billion sale of Essar Oil to a group led by Russia's Rosneft does not run foul of US sanctions imposed against the majority state-owned Russian energy firm, parent Essar Group's CEO said on Sunday. The sale was signed on Saturday. It is the biggest foreign acquisition ever in India and Russia's largest outbound deal.

Panaji, October 15, 2016
Rosneft bought a 49 per cent stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pte, one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners split another 49 per cent equity equally.

October 14, 2016
Rosneft will get a 49 per cent stake in Essar and the two investors-European trader Trafigura and a Russian fund UCP-will hold another 49 per cent in equal parts, the sources said, adding that the valuation included about $4.5 billion in assumed debt.

Mail Today Bureau
New Delhi, October 14, 2016
Rosneft will get 49 percent and the two investors -- European trader Trafigura and a Russian fund UCP -- will hold the remaining 49 percent in equal parts. The valuation includes about $4.5 billion in assumed debt.

July 1, 2016
Essar, which is controlled by the billionaire Ruia brothers and has assets in the oil and gas, steel, ports and power sectors, has faced pressure from creditors to reduce borrowing that some analysts estimate at more than $14 billion.

New Delhi, December 11, 2015
Essar is seeking to buy non-promoter shareholding of 28.54 per cent at Rs 146.05 per share to give billionaire brothers, Shashikant and Ravikant Ruia, greater flexibility and less regulatory scrutiny.
New Delhi, June 23, 2014
After de-listing Essar Energy plc from London Stock Exchange (LSE), the Ruia-brothers controlled Essar Group on June 20 had announced their intention to de-list Essar Oil from Indian bourses.
New Delhi, June 21, 2014
After delisting Essar Energy plc from London Stock Exchange (LSE), the Ruia-brothers controlled Essar Group will de-list Essar Oil from Indian bourses.
New Delhi, May 27, 2014
Narendra Modi's coronation saw India Inc's power parade at the Rashtrapati Bhawan.
March 15, 2014
India's billionaire Ruia family stuck to the 70 pence per share it indicated earlier for buying out the minorities in its London-listed Essar Energy Plc, an offer slammed again by the company's independent committee.
London, February 24, 2014
The Ruias, whose Essar Global group owns 78 per cent of the shares in Essar Energy, had proposed on February 17 buying up the remainder stake.
New York, October 29, 2013
With a networth of $21 billion, Mukesh Ambani has retained his title as India's wealthiest for sixth year in a row, while the country's 100 richest persons saw their collective wealth soar by a modest 3 per cent in a year.
New York, October 25, 2012
Mukesh Ambani has retained his position as the world's richest Indian for the fifth year in a row, although his networth declined by $1.6 billion to $21 billion but remained well above that of the second-ranked Lakshmi Mittal.
March 7, 2012
Essar's Aegis is in talks with PE investors, including US-based Warburg Pincus and General Atlantic, to raise as much as $200 million in an equity placement prior to an IPO.
December 29, 2010
Life has turned full circle for Malay Mukherjee who had left India two decades ago.
New Delhi, September 30, 2010
According to the research study, the combined net worth of India's 100 richest people rose to $300 billion this year, from $276 billion last year, driven by a booming economy.
February 15, 2010
Most of them started from the bottom, and today under the eagle supervision of senior family members, a whole host of inheritors is pulling out all stops to earn their spurs.