Rosneft offered stake in Essar Oil by Ruia brothers

Essar owners Ravi and Shasi Ruia

Rosneft offered stake in Essar Oil: Months after signing a strategic crude sourcing agreement with  Rosneft, the Indian  steel-to-BPO conglomerate Essar Group is now looking to establish  a deeper equity alliance with the Russian oil giant. Shashi and Ravi Ruia, the two  brothers who control the conglomerate, have offered Rosneft  a 50% shareholding minus 1% in its Essar Oil subsidiary which  owns the country’s 2nd largest private oil refinery. The company  is expected to be valued at $7-$8 billion.

Source: indiatimes