Essar bought for $13bn, largest foreign acquisition in India
Russia's state-owned oil giant Rosneft and a consortium of Trafigura and United Capital Partners on Saturday acquired India's second largest private oil firm Essar Oil in an all-cash deal valued at nearly $13 billion. The deal, expected to close in 2017, is the biggest foreign acquisition in India. This deal is the single largest foreign investment in India's refining sector.